Edward Garden Acquires 403,000 Shares of Fortune Brands Innovations (NYSE:FBIN) Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden acquired 403,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the transaction, the director owned 3,556,867 shares in the company, valued at $118,799,357.80. This represents a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Fortune Brands Innovations Stock Up 4.8%

FBIN stock traded up $1.59 on Wednesday, reaching $34.98. 2,857,097 shares of the company traded hands, compared to its average volume of 2,833,915. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. The company has a market cap of $4.17 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 2.15 and a beta of 1.40. The firm has a fifty day simple moving average of $39.42 and a 200-day simple moving average of $48.24.

Fortune Brands Innovations (NYSE:FBIN) last posted 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. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. Research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 46.22%.

Wall Street Analyst Weigh In

Several brokerages have commented on FBIN. Barclays cut their target price on Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Robert W. Baird set a $44.00 target price on Fortune Brands Innovations in a research note on Friday, May 8th. UBS Group cut their target price on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wolfe Research set a $64.00 target price on Fortune Brands Innovations in a research note on Friday, February 13th. Finally, Zelman & Associates downgraded Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.31.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. grew its position in shares of Fortune Brands Innovations by 0.8% during 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 in the last quarter. Assetmark Inc. boosted its stake in Fortune Brands Innovations by 1.2% during the fourth quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock valued at $887,000 after buying an additional 208 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Fortune Brands Innovations by 3.0% during the 4th quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company’s stock valued at $366,000 after buying an additional 213 shares in the last quarter. UMB Bank n.a. grew its holdings in Fortune Brands Innovations by 8.3% during the 3rd quarter. UMB Bank n.a. now owns 2,794 shares of the company’s stock valued at $149,000 after buying an additional 215 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Fortune Brands Innovations by 1.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company’s stock valued at $1,139,000 after acquiring an additional 219 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

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.