Fortune Brands Innovations, Inc. $FBIN Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 91.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,439 shares of the company’s stock after selling 27,061 shares during the period. AlphaQuest LLC’s holdings in Fortune Brands Innovations were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Elevation Point Wealth Partners LLC acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth about $26,000. Hilltop National Bank purchased a new position in Fortune Brands Innovations in the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its stake in Fortune Brands Innovations by 158.3% in 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 last quarter. BOK Financial Private Wealth Inc. purchased a new position in Fortune Brands Innovations in the second quarter valued at approximately $34,000. Finally, Covestor Ltd raised its holdings in Fortune Brands Innovations by 557.5% during the third quarter. Covestor Ltd now owns 881 shares of the company’s stock worth $47,000 after purchasing an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FBIN. Barclays upped their target price on shares of Fortune Brands Innovations from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 price objective on shares of Fortune Brands Innovations in a research note on Friday, January 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday, December 29th. Evercore reissued an “outperform” rating on shares of Fortune Brands Innovations in a report on Friday, October 31st. Finally, UBS Group dropped their price target on 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. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average price target of $62.33.

Read Our Latest Stock Analysis on FBIN

Key Fortune Brands Innovations News

Here are the key news stories impacting Fortune Brands Innovations this week:

Fortune Brands Innovations Stock Down 1.2%

Fortune Brands Innovations stock opened at $62.33 on Friday. 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 stock’s 50 day moving average price is $55.25 and its 200 day moving average price is $54.21. Fortune Brands Innovations, Inc. has a 1-year low of $44.04 and a 1-year high of $70.05. The company has a market cap of $7.49 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 5.33 and a beta of 1.41.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.14). Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. On average, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal 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 an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.25. Fortune Brands Innovations’s dividend payout ratio is currently 37.31%.

About Fortune Brands Innovations

(Free Report)

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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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