KBC Group NV Acquires 401,649 Shares of Fortune Brands Innovations, Inc. $FBIN

KBC Group NV boosted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 93.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 831,514 shares of the company’s stock after purchasing an additional 401,649 shares during the quarter. KBC Group NV’s holdings in Fortune Brands Innovations were worth $42,806,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FBIN. Wellington Management Group LLP grew its holdings in Fortune Brands Innovations by 113.5% during the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock valued at $373,079,000 after buying an additional 3,257,428 shares in the last quarter. Generation Investment Management LLP bought a new stake in Fortune Brands Innovations in the 1st quarter valued at $98,157,000. First Pacific Advisors LP lifted its stake in Fortune Brands Innovations by 152.2% in the 2nd quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company’s stock worth $102,877,000 after purchasing an additional 1,205,880 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in Fortune Brands Innovations in the 1st quarter worth $46,464,000. Finally, Amundi grew its position in shares of Fortune Brands Innovations by 24.1% during the first quarter. Amundi now owns 2,861,900 shares of the company’s stock valued at $169,975,000 after purchasing an additional 555,036 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Trading Up 1.1%

Shares of FBIN opened at $49.31 on Thursday. The company’s fifty day simple moving average is $52.91 and its 200-day simple moving average is $53.70. The company has a market cap of $5.92 billion, a P/E ratio of 15.51, a P/E/G ratio of 4.37 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $81.93.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.01). Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a $0.25 dividend. The ex-dividend date is Friday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 37.31%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FBIN shares. Vertical Research initiated coverage on Fortune Brands Innovations in a research report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price on the stock. Barclays reduced their price objective on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Royal Bank Of Canada lowered their target price on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Tuesday. Finally, UBS Group decreased their price target on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $64.40.

Insider Buying and Selling at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 1,522 shares of Fortune Brands Innovations stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $58.72, for a total transaction of $89,371.84. Following the completion of the sale, the chief executive officer owned 97,139 shares in the company, valued at $5,704,002.08. This trade represents a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.