Key Points
- Director Edward Garden bought 320,067 shares of Fortune Brands Innovations at an average price of $40.60, a transaction worth about $13.0 million. After the purchase, his stake rose to 3,940,234 shares, an 8.84% increase.
- Fortune Brands Innovations recently reported Q1 earnings of $0.53 per share, matching analyst expectations, on revenue of $1.01 billion. Revenue declined 2.1% from a year ago, and analysts now expect full-year EPS of 3.13.
- The company paid a quarterly dividend of $0.26 per share, equal to a 2.4% annualized yield. Meanwhile, analysts currently view FBIN as a Hold overall, with a consensus price target of $51.31.
Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) Director Edward Garden acquired 320,067 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average price of $40.60 per share, with a total value of $12,994,720.20. Following the acquisition, the director 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 purchase was disclosed in a legal filing with the SEC, which is available at this link.
Fortune Brands Innovations Stock Performance
Shares of FBIN opened at $42.92 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $32.34 and a 12 month high of $64.84. The stock has a fifty day moving average price of $38.86 and a 200-day moving average price of $47.22. 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 firm has a market cap of $5.12 billion, a PE ratio of 19.08, a P/E/G ratio of 2.61 and a beta of 1.37.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business's revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts predict that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current fiscal year.
Fortune Brands Innovations Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations's dividend payout ratio is currently 46.22%.
Hedge Funds Weigh In On Fortune Brands Innovations
Institutional investors have recently modified their holdings of the stock. Aquatic Capital Management LLC raised its stake in shares of Fortune Brands Innovations by 75.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 95,042 shares of the company's stock valued at $5,074,000 after buying an additional 40,898 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Fortune Brands Innovations by 7.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company's stock valued at $27,723,000 after acquiring an additional 37,861 shares during the period. Thematics Asset Management acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $12,287,000. Rafferty Asset Management LLC grew its position in shares of Fortune Brands Innovations by 118.3% during the 3rd quarter. Rafferty Asset Management LLC now owns 97,063 shares of the company's stock valued at $5,182,000 after acquiring an additional 52,598 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Fortune Brands Innovations by 169.3% during the 3rd quarter. Victory Capital Management Inc. now owns 840,303 shares of the company's stock valued at $44,864,000 after acquiring an additional 528,237 shares during the period. Hedge funds and other institutional investors own 87.60% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on FBIN shares. BMO Capital Markets reduced their target price on Fortune Brands Innovations from $56.00 to $50.00 and set a "market perform" rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their target price on Fortune Brands Innovations from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, May 15th. Zacks Research lowered Fortune Brands Innovations from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 19th. Royal Bank Of Canada reduced their target price on Fortune Brands Innovations from $56.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. Finally, UBS Group reduced their target price 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. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Fortune Brands Innovations has an average rating of "Hold" and a consensus price target of $51.31.
Check Out Our Latest Stock Report on FBIN
About Fortune Brands Innovations
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
