Freestone Grove Partners LP Purchases New Stake in Fortune Brands Innovations, Inc. $FBIN

Freestone Grove Partners LP acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,478,374 shares of the company’s stock, valued at approximately $136,063,000. Fortune Brands Innovations comprises approximately 0.9% of Freestone Grove Partners LP’s holdings, making the stock its 9th largest holding. Freestone Grove Partners LP owned about 2.08% of Fortune Brands Innovations as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. 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 raised its holdings in shares of Fortune Brands Innovations by 158.3% in the 2nd 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. Cary Street Partners Investment Advisory LLC lifted its stake in 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 valued at $28,000 after purchasing an additional 510 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Fortune Brands Innovations in the first quarter valued at approximately $30,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Fortune Brands Innovations by 628.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company’s stock valued at $30,000 after purchasing an additional 522 shares during the period. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 1.2%

Shares of FBIN stock opened at $46.23 on Thursday. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 3.86 and a beta of 1.31. The company’s fifty day simple moving average is $48.95 and its two-hundred day simple moving average is $45.17. 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 1.11, a current ratio of 2.01 and a quick ratio of 1.05.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.55. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 3.32 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 2.2%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 84.55%.

Insider Buying and Selling

In other news, Director Edward P. Garden bought 320,067 shares of the stock in a transaction on Wednesday, June 10th. The shares were acquired at an average cost of $40.60 per share, for a total transaction of $12,994,720.20. Following the purchase, the director directly owned 3,940,234 shares of the company’s stock, valued at $159,973,500.40. This trade represents a 8.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jesse G. Singh purchased 19,725 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $51.66 per share, with a total value of $1,018,993.50. Following the completion of the acquisition, the chief executive officer owned 19,725 shares in the company, valued at approximately $1,018,993.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 359,352 shares of company stock valued at $15,009,905 over the last 90 days. 3.32% of the stock is owned by company insiders.

Analyst Ratings Changes

FBIN has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on 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. BMO Capital Markets increased their price target on Fortune Brands Innovations from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Truist Financial raised Fortune Brands Innovations from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $70.00 in a report on Tuesday, June 30th. DA Davidson initiated coverage on Fortune Brands Innovations in a research note on Monday. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, Zacks Research raised shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.71.

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.