Fortune Brands Innovations (NYSE:FBIN) Director Edward Garden Buys 5,900 Shares of Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden bought 5,900 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $33.28 per share, with a total value of $196,352.00. Following the purchase, the director directly owned 3,562,767 shares of the company’s stock, valued at approximately $118,568,885.76. This represents a 0.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $34.98 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13. The company has a market capitalization of $4.17 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 2.15 and a beta of 1.40. The company’s 50 day moving average price is $39.42 and its two-hundred day moving average price is $48.24. Fortune Brands Innovations, Inc. has a 52 week low of $32.34 and a 52 week high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. On average, analysts expect that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 46.22%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Wolfe Research set a $64.00 target price on shares of Fortune Brands Innovations in a report on Friday, February 13th. Barclays lowered their price objective on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. BMO Capital Markets lowered their price objective 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. Finally, Robert W. Baird set a $44.00 price objective on shares of Fortune Brands Innovations in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.31.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently made changes to their positions in FBIN. Danske Bank A S bought a new position in shares of Fortune Brands Innovations in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased 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 worth $28,000 after buying an additional 510 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Fortune Brands Innovations during the fourth quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in Fortune Brands Innovations during the third quarter worth $31,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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.