Van ECK Associates Corp Sells 32,904 Shares of Fortune Brands Innovations, Inc. $FBIN

Van ECK Associates Corp decreased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 36.7% during the 2nd quarter, Holdings Channel reports. The firm owned 56,799 shares of the company’s stock after selling 32,904 shares during the quarter. Van ECK Associates Corp’s holdings in Fortune Brands Innovations were worth $3,118,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Fortune Brands Innovations in the second quarter valued at approximately $1,062,255,000. Pictet Asset Management Holding SA boosted its position in shares of Fortune Brands Innovations by 74.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company’s stock worth $303,757,000 after purchasing an additional 3,317,232 shares in the last quarter. Orbis Allan Gray Ltd grew its stake in shares of Fortune Brands Innovations by 586.7% in the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock valued at $363,760,000 after buying an additional 6,213,274 shares during the period. Dimensional Fund Advisors LP increased its position in Fortune Brands Innovations by 7.2% in the 1st 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 in the last quarter. Finally, Garden Investment Management L.P. acquired a new position in Fortune Brands Innovations during the 1st quarter worth approximately $137,471,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FBIN shares. Robert W. Baird set a $44.00 target price on Fortune Brands Innovations in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. UBS Group raised their price objective on shares of Fortune Brands Innovations from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their target price on shares of Fortune Brands Innovations from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus target price of $55.71.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $42.15 on Friday. Fortune Brands Innovations, Inc. has a 1 year low of $32.34 and a 1 year high of $64.84. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.01 and a quick ratio of 1.05. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 1.90 and a beta of 1.30. The company has a fifty day moving average price of $49.06 and a 200-day moving average price of $44.46.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results 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 business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 3.33 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.04 annualized dividend and a dividend yield of 2.5%. Fortune Brands Innovations’s dividend payout ratio is currently 84.55%.

Insider Activity at Fortune Brands Innovations

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

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.