Caxton Associates LLP Invests $2.34 Million in Fortune Brands Innovations, Inc. $FBIN

Caxton Associates LLP acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 1st quarter, HoldingsChannel reports. The fund acquired 60,027 shares of the company’s stock, valued at approximately $2,339,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Systematic Financial Management LP raised its position in Fortune Brands Innovations by 1.8% during the 1st quarter. Systematic Financial Management LP now owns 291,709 shares of the company’s stock worth $11,368,000 after purchasing an additional 5,261 shares during the last quarter. First Trust Advisors LP grew its position in shares of Fortune Brands Innovations by 2.9% in the 1st quarter. First Trust Advisors LP now owns 926,444 shares of the company’s stock valued at $36,103,000 after buying an additional 26,259 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at about $30,000. Dimensional Fund Advisors LP increased its stake in shares of Fortune Brands Innovations by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company’s stock valued at $158,362,000 after buying an additional 271,371 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Fortune Brands Innovations by 31.8% in the first quarter. Parallel Advisors LLC now owns 1,247 shares of the company’s stock valued at $49,000 after buying an additional 301 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Up 2.9%

Shares of Fortune Brands Innovations stock opened at $51.26 on Friday. 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 stock’s 50-day moving average is $44.58 and its 200 day moving average is $46.69. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 3.21 and a beta of 1.30.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $1.01 billion during 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 firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 46.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FBIN shares. BMO Capital Markets cut their price objective on 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. Truist Financial raised shares of Fortune Brands Innovations from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $70.00 in a research report on Tuesday, June 30th. The Goldman Sachs Group raised their price target 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. Barclays boosted their price target on shares of Fortune Brands Innovations from $41.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Fortune Brands Innovations from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.38.

Insider Buying and Selling at Fortune Brands Innovations

In related news, Director Edward P. Garden bought 320,067 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the transaction, the director directly owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. The trade was a 8.84% 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 hyperlink. In the last three months, insiders have acquired 786,367 shares of company stock valued at $28,653,958. Insiders own 3.32% 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.