Insider Buying: Fortune Brands Innovations (NYSE:FBIN) Director Acquires 5,900 Shares of Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden bought 5,900 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $33.28 per share, for a total transaction of $196,352.00. Following the completion of the purchase, the director directly owned 3,562,767 shares of the company’s stock, valued at approximately $118,568,885.76. This trade represents a 0.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fortune Brands Innovations Stock Up 4.8%

Shares of FBIN stock traded up $1.59 during trading hours on Wednesday, reaching $34.98. 2,857,097 shares of the stock were exchanged, compared to its average volume of 2,833,915. The business’s fifty day moving average is $39.42 and its two-hundred day moving average is $48.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. Fortune Brands Innovations, Inc. has a 12-month low of $32.34 and a 12-month high of $64.84. The firm has a market capitalization of $4.17 billion, a P/E ratio of 15.55, a P/E/G ratio of 2.15 and a beta of 1.40.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The company 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 firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 46.22%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wolfe Research set a $64.00 price target on shares of Fortune Brands Innovations in a research note on Friday, February 13th. JPMorgan Chase & Co. dropped their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Truist Financial dropped their price target on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Robert W. Baird set a $44.00 price target on shares of Fortune Brands Innovations in a research note on Friday, May 8th. Finally, Royal Bank Of Canada dropped their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $51.31.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently modified their holdings of the business. Danske Bank A S purchased a new position in shares of Fortune Brands Innovations during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in shares of Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Fortune Brands Innovations during the fourth quarter worth approximately $28,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Fortune Brands Innovations by 1,275.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock worth $28,000 after acquiring an additional 510 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Fortune Brands Innovations during the first quarter worth approximately $30,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.