Quantinno Capital Management LP Buys 22,348 Shares of Fortune Brands Innovations, Inc. $FBIN

Quantinno Capital Management LP lifted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 795,709 shares of the company’s stock after buying an additional 22,348 shares during the period. Quantinno Capital Management LP owned about 0.67% of Fortune Brands Innovations worth $31,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its position in Fortune Brands Innovations by 0.8% in the first quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock valued at $2,539,000 after buying an additional 324 shares in the last quarter. Empowered Funds LLC grew its position in shares of Fortune Brands Innovations by 20.5% during the 1st quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock worth $629,000 after buying an additional 1,761 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after buying an additional 388 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Fortune Brands Innovations by 7.6% in the second quarter. Cetera Investment Advisers now owns 10,382 shares of the company’s stock valued at $534,000 after buying an additional 731 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after buying an additional 323 shares during the period. Institutional investors own 87.60% of the company’s stock.

Insider Activity at Fortune Brands Innovations

In other news, Director Edward P. Garden acquired 403,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $33.40 per share, with a total value of $13,460,200.00. Following the transaction, the director directly owned 3,556,867 shares in the company, valued at approximately $118,799,357.80. The trade was a 12.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 786,367 shares of company stock valued at $28,653,958. Company insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Stock Up 0.2%

FBIN stock opened at $49.35 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average price of $46.07 and a two-hundred day moving average price of $46.56. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 3.18 and a beta of 1.30. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84.

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

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 21st. Fortune Brands Innovations’s dividend payout ratio is 46.22%.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Fortune Brands Innovations from $50.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, July 10th. BMO Capital Markets increased their price target on Fortune Brands Innovations from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Tuesday. Zacks Research raised Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings cut shares of Fortune Brands Innovations from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada decreased their price objective on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.62.

About Fortune Brands Innovations

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.