Hsbc Holdings PLC cut its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) by 67.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,518 shares of the company’s stock after selling 11,319 shares during the quarter. Hsbc Holdings PLC’s holdings in Fortune Brands Innovations were worth $215,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S bought a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after purchasing an additional 323 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $28,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Fortune Brands Innovations by 1,275.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock worth $28,000 after purchasing an additional 510 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of 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 purchasing an additional 522 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Barclays increased their price target on Fortune Brands Innovations from $41.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada decreased their price target on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Robert W. Baird set a $44.00 price objective on Fortune Brands Innovations in a research report on Friday, May 8th. Finally, 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. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $54.08.
Fortune Brands Innovations Stock Up 5.9%
Shares of FBIN stock opened at $52.16 on Tuesday. The stock has a market cap of $6.22 billion, a P/E ratio of 23.18, a PEG ratio of 3.18 and a beta of 1.31. Fortune Brands Innovations, Inc. has a 52 week low of $32.34 and a 52 week high of $64.84. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The company’s fifty day simple moving average is $46.36 and its two-hundred day simple moving average is $46.42.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates 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 last year, the business posted $0.66 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts predict that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current fiscal year.
Fortune Brands Innovations Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio is presently 46.22%.
Insider Transactions at Fortune Brands Innovations
In other news, Director Edward P. Garden acquired 320,067 shares of Fortune Brands Innovations stock in a transaction on 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 purchase, the director directly owned 3,940,234 shares in the company, valued at $159,973,500.40. The trade was a 8.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders purchased 786,367 shares of company stock valued at $28,653,958. Insiders own 3.32% of the company’s stock.
About Fortune Brands Innovations
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
- SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control
- Why Rare Earth Processing Could Be the Real 2027 Opportunity
- The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure
- TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks?
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.
