Polar Asset Management Partners Inc. Takes Position in Fortune Brands Innovations, Inc. $FBIN

Polar Asset Management Partners Inc. acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,000 shares of the company’s stock, valued at approximately $2,196,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Garden Investment Management L.P. bought a new position in shares of Fortune Brands Innovations during the 1st quarter worth approximately $137,471,000. Diamond Hill Capital Management Inc. lifted its position in shares of Fortune Brands Innovations by 7.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company’s stock worth $27,723,000 after purchasing an additional 37,861 shares in the last quarter. Black Cypress Capital Management LLC boosted its holdings in Fortune Brands Innovations by 22.6% during the fourth quarter. Black Cypress Capital Management LLC now owns 150,825 shares of the company’s stock worth $7,544,000 after purchasing an additional 27,824 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Fortune Brands Innovations by 2,071.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 147,689 shares of the company’s stock worth $7,387,000 after purchasing an additional 140,888 shares during the last quarter. Finally, Vulcan Value Partners LLC grew its position in Fortune Brands Innovations by 18.2% in the fourth quarter. Vulcan Value Partners LLC now owns 353,520 shares of the company’s stock valued at $17,683,000 after purchasing an additional 54,492 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden acquired 320,067 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were purchased at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the completion of the purchase, the director directly owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. This represents a 8.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jesse G. Singh acquired 19,560 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $50.93 per share, with a total value of $996,190.80. Following the completion of the transaction, the chief executive officer owned 39,285 shares of the company’s stock, valued at approximately $2,000,785.05. The trade was a 99.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 359,352 shares of company stock worth $15,009,905 in the last 90 days. Corporate insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on FBIN. JPMorgan Chase & Co. lowered their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Zacks Research upgraded Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Royal Bank Of Canada lifted their target price on Fortune Brands Innovations from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. UBS Group upped their target price on Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, DA Davidson assumed coverage on Fortune Brands Innovations in a research report on Monday. They set a “buy” rating and a $64.00 price target for the company. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.71.

Read Our Latest Analysis on Fortune Brands Innovations

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $45.74 on Wednesday. The stock has a market cap of $5.46 billion, a P/E ratio of 37.19, a P/E/G ratio of 3.80 and a beta of 1.31. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.01 and a quick ratio of 1.05. The company has a fifty day moving average price of $48.83 and a two-hundred day moving average price of $45.27. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.55. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. Fortune Brands Innovations’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 3.32 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Fortune Brands Innovations’s payout ratio is 84.55%.

About Fortune Brands Innovations

(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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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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