Fortune Brands Innovations, Inc. (NYSE:FBIN – Get Free Report) Director Edward Garden acquired 57,400 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $34.89 per share, with a total value of $2,002,686.00. Following the purchase, the director owned 3,620,167 shares in the company, valued at approximately $126,307,626.63. The trade was a 1.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Fortune Brands Innovations Trading Up 3.6%
FBIN traded up $1.25 on Thursday, reaching $36.27. 3,830,582 shares of the company’s stock were exchanged, compared to its average volume of 2,847,287. The company’s 50 day moving average is $39.42 and its 200-day moving average is $48.24. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.15 and a beta of 1.40. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts predict that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current year.
Fortune Brands Innovations Announces Dividend
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on FBIN shares. UBS Group dropped their price objective on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, May 8th. BMO Capital Markets cut their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating on the stock in a report on Monday, April 20th. Royal Bank Of Canada reduced their price objective 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. Barclays decreased their price objective on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Finally, Wolfe Research set a $64.00 target price on shares of Fortune Brands Innovations in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.31.
Read Our Latest Report on FBIN
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBIN. Osaic Holdings Inc. grew its stake in Fortune Brands Innovations by 0.8% during the 4th quarter. Osaic Holdings Inc. now owns 24,447 shares of the company’s stock worth $1,223,000 after buying an additional 198 shares during the last quarter. Assetmark Inc. boosted its position in Fortune Brands Innovations by 1.2% during the 4th quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock worth $887,000 after acquiring an additional 208 shares during the period. TD Private Client Wealth LLC grew its position in 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 valued at $366,000 after buying an additional 213 shares in the last quarter. UMB Bank n.a. grew its position in Fortune Brands Innovations by 8.3% in the 3rd quarter. UMB Bank n.a. now owns 2,794 shares of the company’s stock valued at $149,000 after buying an additional 215 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Fortune Brands Innovations by 1.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company’s stock valued at $1,139,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.
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.
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