Key Points
- Director Edward Garden bought 57,400 shares of Fortune Brands Innovations for about $2.0 million, increasing his stake by 1.61% to more than 3.62 million shares.
- Fortune Brands Innovations recently reported EPS of $0.53 and revenue of $1.01 billion, both in line with expectations, though quarterly revenue fell 2.1% year over year.
- The company announced a quarterly dividend of $0.26 per share, implying a 2.9% yield, while analysts currently rate the stock Hold on average with a $51.31 target price.
Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) Director Edward Garden bought 57,400 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $34.89 per share, with a total value of $2,002,686.00. Following the completion of the acquisition, the director owned 3,620,167 shares of the company's stock, valued at $126,307,626.63. This represents a 1.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Fortune Brands Innovations Trading Up 3.6%
Shares of FBIN opened at $36.27 on Friday. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84. The company has a market cap of $4.33 billion, a P/E ratio of 16.12, a P/E/G ratio of 2.26 and a beta of 1.40. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The company's fifty day simple moving average is $39.24 and its 200-day simple moving average is $48.13.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The firm's quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. As a group, analysts expect that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current year.
Fortune Brands Innovations Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, May 22nd. Fortune Brands Innovations's payout ratio is currently 46.22%.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Royal Bank Of Canada decreased their target price on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. cut their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Friday, May 15th. Bank of America dropped their price objective on Fortune Brands Innovations from $52.00 to $42.00 and set an "underperform" rating for the company in a research note on Monday, April 20th. The Goldman Sachs Group reduced their target price on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. Finally, Zacks Research lowered shares of Fortune Brands Innovations from a "hold" rating to a "strong sell" rating in a report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of "Hold" and an average target price of $51.31.
Check Out Our Latest Research Report on FBIN
Hedge Funds Weigh In On Fortune Brands Innovations
Large investors have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its stake in shares of Fortune Brands Innovations by 0.8% in the fourth quarter. Osaic Holdings Inc. now owns 24,447 shares of the company's stock valued at $1,223,000 after buying an additional 198 shares in the last quarter. Assetmark Inc. boosted its position in shares of Fortune Brands Innovations by 1.2% in the 4th quarter. Assetmark Inc. now owns 17,728 shares of the company's stock worth $887,000 after buying an additional 208 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Fortune Brands Innovations by 3.0% in the 4th quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company's stock worth $366,000 after buying an additional 213 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Fortune Brands Innovations by 8.3% in the 3rd quarter. UMB Bank n.a. now owns 2,794 shares of the company's stock worth $149,000 after buying an additional 215 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Fortune Brands Innovations by 1.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company's stock worth $1,139,000 after buying an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.
Fortune Brands Innovations Company Profile
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Get Free Report)
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.
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