Fortune Brands Innovations, Inc. $FBIN Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 74.0% during the first quarter, Holdings Channel.com reports. The firm owned 7,798,078 shares of the company’s stock after acquiring an additional 3,317,232 shares during the period. Pictet Asset Management Holding SA owned 0.07% of Fortune Brands Innovations worth $303,757,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC lifted its position in shares of Fortune Brands Innovations by 111.1% during the 1st quarter. Sterling Capital Management LLC now owns 15,108 shares of the company’s stock worth $589,000 after buying an additional 7,952 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Fortune Brands Innovations during the 1st quarter worth $1,356,000. Kestra Private Wealth Services LLC purchased a new stake in Fortune Brands Innovations in the first quarter valued at $216,000. SG Americas Securities LLC lifted its position in Fortune Brands Innovations by 112.5% in the first quarter. SG Americas Securities LLC now owns 203,990 shares of the company’s stock valued at $7,949,000 after acquiring an additional 108,016 shares during the last quarter. Finally, Vulcan Value Partners LLC boosted its stake in Fortune Brands Innovations by 18.2% in the fourth quarter. Vulcan Value Partners LLC now owns 353,520 shares of the company’s stock valued at $17,683,000 after acquiring an additional 54,492 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Insider Buying and Selling

In other news, Director Edward P. Garden bought 403,000 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $33.40 per share, for a total transaction of $13,460,200.00. Following the purchase, the director owned 3,556,867 shares of the company’s stock, valued at approximately $118,799,357.80. The trade was a 12.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have acquired 786,367 shares of company stock worth $28,653,958. 3.32% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Stock Down 0.7%

FBIN opened at $46.03 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $32.34 and a 52 week high of $64.84. The business has a 50 day moving average price of $39.73 and a two-hundred day moving average price of $46.65. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The company has a market cap of $5.49 billion, a PE ratio of 20.46, a P/E/G ratio of 2.96 and a beta of 1.37.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The company’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 46.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. 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 report on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on 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. Bank of America cut their price target on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. UBS Group reduced their price objective on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, BMO Capital Markets decreased their price objective on Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.