Fortune Brands Innovations, Inc. $FBIN Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 57.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,705 shares of the company’s stock after selling 121,375 shares during the quarter. Engineers Gate Manager LP’s holdings in Fortune Brands Innovations were worth $4,870,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in 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 valued at $28,000 after purchasing an additional 510 shares during the period. EFG International AG acquired a new position in Fortune Brands Innovations during the 2nd quarter valued at about $32,000. Measured Wealth Private Client Group LLC bought a new position in Fortune Brands Innovations in the 3rd quarter worth about $31,000. Finally, Brown Brothers Harriman & Co. grew its position in Fortune Brands Innovations by 628.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company’s stock worth $30,000 after purchasing an additional 522 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FBIN. Truist Financial raised Fortune Brands Innovations from a “hold” rating to a “buy” rating and lifted their price target for the company from $45.00 to $70.00 in a report on Tuesday, June 30th. Barclays cut their target price on Fortune Brands Innovations from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings upgraded Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. BMO Capital Markets raised their price target on Fortune Brands Innovations from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Finally, UBS Group upped their price objective on shares of Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.43.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Jesse Singh acquired 19,560 shares of Fortune Brands Innovations stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $50.93 per share, for a total transaction of $996,190.80. Following the transaction, the chief executive officer owned 39,285 shares in the company, valued at approximately $2,000,785.05. This trade represents a 99.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $40.69 on Friday. Fortune Brands Innovations, Inc. has a 1 year low of $32.34 and a 1 year high of $64.84. The firm has a market cap of $4.86 billion, a P/E ratio of 33.08, a PEG ratio of 1.80 and a beta of 1.30. The stock has a fifty day moving average price of $47.80 and a two-hundred day moving average price of $44.04. 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 posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.55. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. Research analysts forecast that Fortune Brands Innovations, Inc. will post 3.33 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, August 21st. Fortune Brands Innovations’s dividend payout ratio is presently 84.55%.

Fortune Brands Innovations Profile

Fortune Brands Innovations, Inc (NYSE: FBIN) is a manufacturer and marketer of products used in residential, commercial and remodeling applications. The company focuses on improving the safety, functionality, design and outdoor living experience of buildings through a portfolio of branded products.

Its offerings include plumbing fixtures and related water products, including faucets, showers and other kitchen and bathroom solutions; entry-door systems and fiberglass and steel doors; decking and outdoor-living products; and security products such as locks, safes and connected access solutions.