Wilmington Savings Fund Society FSB Acquires 23,575 Shares of Fortune Brands Innovations, Inc. $FBIN

Wilmington Savings Fund Society FSB boosted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 911.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,162 shares of the company’s stock after buying an additional 23,575 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Fortune Brands Innovations were worth $1,397,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hilltop National Bank bought a new position in Fortune Brands Innovations during the third quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of Fortune Brands Innovations during the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC raised its position 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 buying an additional 323 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Fortune Brands Innovations by 119.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after buying an additional 293 shares during the period. Finally, BOK Financial Private Wealth Inc. acquired a new stake in Fortune Brands Innovations during the second quarter worth about $34,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Up 0.6%

Shares of Fortune Brands Innovations stock opened at $61.65 on Monday. The company has a market capitalization of $7.41 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 4.19 and a beta of 1.40. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.95 and a quick ratio of 0.94. The business has a 50-day moving average of $51.40 and a two-hundred day moving average of $53.55. Fortune Brands Innovations, Inc. has a 1 year low of $44.04 and a 1 year high of $75.82.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.01). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. Fortune Brands Innovations’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Friday, February 20th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, February 20th. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 37.31%.

Analysts Set New Price Targets

A number of brokerages have commented on FBIN. Royal Bank Of Canada reiterated an “outperform” rating and issued a $62.00 price objective on shares of Fortune Brands Innovations in a research report on Friday, January 9th. Barclays upped their price objective on Fortune Brands Innovations from $63.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday. Vertical Research initiated coverage on shares of Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price objective on the stock. Evercore ISI restated an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. Finally, UBS Group dropped their price objective on Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.33.

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.