Capital Fund Management S.A. Buys New Stake in Fortune Brands Innovations, Inc. $FBIN

Capital Fund Management S.A. bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 173,086 shares of the company’s stock, valued at approximately $8,910,000.

Other hedge funds also recently bought and sold shares of the company. National Pension Service grew its position in shares of Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after purchasing an additional 199 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Fortune Brands Innovations during the 2nd quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB boosted its stake in Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares during the period. BOK Financial Private Wealth Inc. acquired a new stake in Fortune Brands Innovations in the 2nd quarter valued at approximately $34,000. Finally, Ameritas Advisory Services LLC bought a new position in Fortune Brands Innovations in the 2nd quarter worth approximately $37,000. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Trading Up 0.2%

Shares of Fortune Brands Innovations stock opened at $51.63 on Friday. Fortune Brands Innovations, Inc. has a 52-week low of $44.04 and a 52-week high of $80.18. The firm has a market capitalization of $6.20 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The company’s fifty day moving average price is $50.33 and its two-hundred day moving average price is $53.25.

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

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio is currently 37.31%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FBIN shares. Truist Financial reissued a “hold” rating and issued a $60.00 price objective (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Royal Bank Of Canada cut their target price on shares of Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Vertical Research initiated coverage on shares of Fortune Brands Innovations in a research report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 price target on the stock. Loop Capital reaffirmed a “hold” rating and set a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday, November 24th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.40.

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.