EMG Holdings L.P. acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) during the 1st quarter, HoldingsChannel reports. The fund acquired 100,000 shares of the company’s stock, valued at approximately $3,897,000. Fortune Brands Innovations comprises 1.0% of EMG Holdings L.P.’s investment portfolio, making the stock its 12th largest position.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Danske Bank A S purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Fortune Brands Innovations in the fourth quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC grew its holdings in Fortune Brands Innovations by 1,275.0% during the fourth 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. Finally, Brown Brothers Harriman & Co. increased its position in Fortune Brands Innovations by 628.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company’s stock worth $30,000 after buying an additional 522 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Edward P. Garden bought 403,000 shares of Fortune Brands Innovations stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $33.40 per share, with a total value of $13,460,200.00. Following the acquisition, the director directly owned 3,556,867 shares of the company’s stock, valued at $118,799,357.80. This represents a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 786,367 shares of company stock valued at $28,653,958. 3.32% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
View Our Latest Research Report on Fortune Brands Innovations
Fortune Brands Innovations Trading Up 0.4%
Shares of FBIN stock opened at $49.33 on Friday. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 3.17 and a beta of 1.30. The company’s fifty day simple moving average is $45.84 and its two-hundred day simple moving average is $46.54. 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 1.15, a current ratio of 2.13 and a quick ratio of 1.04.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current year.
Fortune Brands Innovations Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be paid a $0.26 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.04 annualized dividend and a yield of 2.1%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 46.22%.
Fortune Brands Innovations 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.
Featured Stories
- Five stocks we like better than Fortune Brands Innovations
- Microsoft Just Flipped the AI Spending Narrative Overnight
- Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling?
- Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending
- Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes
Want to see what other hedge funds are holding FBIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report).
Receive News & Ratings for Fortune Brands Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Innovations and related companies with MarketBeat.com's FREE daily email newsletter.
