Fortune Brands Innovations (NYSE:FBIN) Director Purchases $2,002,686.00 in Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden purchased 57,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $34.89 per share, with a total value of $2,002,686.00. Following the purchase, the director directly owned 3,620,167 shares of the company’s stock, valued at $126,307,626.63. The trade was a 1.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Fortune Brands Innovations Stock Up 3.6%

NYSE FBIN traded up $1.25 on Thursday, hitting $36.27. 3,830,582 shares of the stock were exchanged, compared to its average volume of 2,847,287. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The company has a market cap of $4.33 billion, a PE ratio of 16.12, a PEG ratio of 2.15 and a beta of 1.40. The company has a 50-day moving average price of $39.42 and a 200-day moving average price of $48.24.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.26 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.9%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 46.22%.

Analysts Set New Price Targets

FBIN has been the topic of several research reports. Robert W. Baird set a $44.00 price objective on shares of Fortune Brands Innovations in a research report on Friday, May 8th. Truist Financial decreased their target price on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 8th. UBS Group lowered their price target on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Zelman & Associates downgraded Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research note on Friday, February 13th. Finally, Bank of America lowered their target price on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $51.31.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. grew its position in shares of Fortune Brands Innovations by 0.8% in the fourth quarter. Osaic Holdings Inc. now owns 24,447 shares of the company’s stock valued at $1,223,000 after purchasing an additional 198 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Fortune Brands Innovations by 1.2% during the 4th quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock worth $887,000 after purchasing an additional 208 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of Fortune Brands Innovations by 3.0% during the fourth quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company’s stock worth $366,000 after purchasing an additional 213 shares during the last quarter. UMB Bank n.a. grew its position in shares of Fortune Brands Innovations by 8.3% in the third quarter. UMB Bank n.a. now owns 2,794 shares of the company’s stock valued at $149,000 after purchasing an additional 215 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Fortune Brands Innovations by 1.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company’s stock valued at $1,139,000 after purchasing an additional 219 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.