Natixis Advisors LLC Has $10.67 Million Stock Position in Fortune Brands Innovations, Inc. $FBIN

Natixis Advisors LLC lifted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 12.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,276 shares of the company’s stock after purchasing an additional 23,137 shares during the quarter. Natixis Advisors LLC owned approximately 0.18% of Fortune Brands Innovations worth $10,668,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Fortune Brands Innovations by 10.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,251,082 shares of the company’s stock worth $173,572,000 after purchasing an additional 309,300 shares during the last quarter. Amundi increased its stake in shares of Fortune Brands Innovations by 15.2% during the 3rd quarter. Amundi now owns 2,879,208 shares of the company’s stock worth $152,263,000 after purchasing an additional 380,275 shares during the last quarter. Norges Bank acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth $83,796,000. Balyasny Asset Management L.P. acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter worth $77,441,000. Finally, Bank of America Corp DE increased its stake in shares of Fortune Brands Innovations by 82.7% during the 3rd quarter. Bank of America Corp DE now owns 1,420,708 shares of the company’s stock worth $75,852,000 after purchasing an additional 643,247 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $39.06 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $38.63 and a 200 day simple moving average of $47.33. The company has a market cap of $4.66 billion, a P/E ratio of 17.36, a P/E/G ratio of 2.52 and a beta of 1.37. Fortune Brands Innovations, Inc. has a 1 year low of $32.34 and a 1 year high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. Fortune Brands Innovations’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 3.13 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 46.22%.

Insider Activity

In other news, Director Edward P. Garden acquired 57,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $34.89 per share, with a total value of $2,002,686.00. Following the acquisition, the director owned 3,620,167 shares in the company, valued at approximately $126,307,626.63. This represents a 1.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have acquired 466,300 shares of company stock worth $15,659,238. 3.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FBIN. BMO Capital Markets dropped their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, April 20th. Barclays dropped their price target on shares of 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. 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. Zacks Research lowered shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, Bank of America dropped their price target on shares of 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 equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.31.

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.