Commerce Bank Invests $1.49 Million in Fortune Brands Innovations, Inc. $FBIN

Commerce Bank purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,200 shares of the company’s stock, valued at approximately $1,493,000.

Several other large investors also recently bought and sold shares of the business. Danske Bank A S acquired a new stake in Fortune Brands Innovations in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after purchasing an additional 323 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Fortune Brands Innovations by 1,275.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock worth $28,000 after purchasing an additional 510 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Fortune Brands Innovations in the first quarter valued at approximately $30,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of Fortune Brands Innovations by 628.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company’s stock valued at $30,000 after purchasing an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 1.7%

FBIN stock opened at $45.74 on Wednesday. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84. The firm has a market cap of $5.46 billion, a PE ratio of 37.19, a PEG ratio of 3.80 and a beta of 1.31. The firm’s 50 day moving average price is $48.83 and its 200-day moving average price is $45.27. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.55. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.32 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, August 21st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. Fortune Brands Innovations’s dividend payout ratio is currently 84.55%.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Jesse G. Singh purchased 19,725 shares of the stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost of $51.66 per share, for a total transaction of $1,018,993.50. Following the acquisition, the chief executive officer owned 19,725 shares in the company, valued at $1,018,993.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward P. Garden acquired 320,067 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of $40.60 per share, with a total value of $12,994,720.20. Following the completion of the transaction, the director directly owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. The trade was a 8.84% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 359,352 shares of company stock valued at $15,009,905. Company insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial upgraded Fortune Brands Innovations from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $70.00 in a research report on Tuesday, June 30th. Royal Bank Of Canada upped their target price on Fortune Brands Innovations from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. DA Davidson began coverage on Fortune Brands Innovations in a research note on Monday. They issued a “buy” rating and a $64.00 target price for the company. UBS Group lifted their price target on Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Barclays lowered their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.71.

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.