Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Fortune Brands Innovations, Inc. $FBIN

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 16,868 shares of the company’s stock, valued at approximately $844,000.

A number of other large investors also recently modified their holdings of FBIN. Danske Bank A S acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Fortune Brands Innovations by 158.3% during 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 period. V Square Quantitative Management LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $28,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Fortune Brands Innovations during the third quarter valued at $31,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Fortune Brands Innovations by 180.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 741 shares of the company’s stock valued at $40,000 after purchasing an additional 477 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FBIN. The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Bank of America lowered their target price on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Zacks Research lowered Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Wolfe Research set a $64.00 target price on Fortune Brands Innovations in a report on Friday, February 13th. Finally, Royal Bank Of Canada lowered their target price 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. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.31.

Insiders Place Their Bets

In related news, Director Edward P. Garden purchased 403,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $33.40 per share, with a total value of $13,460,200.00. Following the purchase, the director owned 3,556,867 shares of the company’s stock, valued at $118,799,357.80. This trade represents a 12.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders bought 466,300 shares of company stock valued at $15,659,238. Company insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $37.64 on Friday. The business’s 50-day moving average price is $39.09 and its 200 day moving average price is $48.06. The firm has a market cap of $4.49 billion, a P/E ratio of 16.73, a PEG ratio of 2.43 and a beta of 1.40. 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.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.Fortune Brands Innovations’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 2.8%. 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.