Edward Garden Purchases 403,000 Shares of Fortune Brands Innovations (NYSE:FBIN) Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden purchased 403,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the transaction, the director directly owned 3,556,867 shares in the company, valued at $118,799,357.80. This trade represents a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fortune Brands Innovations Trading Up 3.6%

Shares of FBIN opened at $36.27 on Friday. The stock has a market capitalization of $4.33 billion, a P/E ratio of 16.12, a PEG ratio of 2.26 and a beta of 1.40. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The firm has a fifty day simple moving average of $39.24 and a two-hundred day simple moving average of $48.13. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 EPS. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.04 annualized dividend and a yield of 2.9%. Fortune Brands Innovations’s dividend payout ratio is presently 46.22%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FBIN. Truist Financial dropped their price target on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Wolfe Research set a $64.00 price target on shares of Fortune Brands Innovations in a research report on Friday, February 13th. Royal Bank Of Canada dropped their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Finally, BMO Capital Markets decreased their price objective on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.31.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new position in Fortune Brands Innovations in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in 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 in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Fortune Brands Innovations by 1,275.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock worth $28,000 after purchasing an additional 510 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Fortune Brands Innovations in the 4th quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Fortune Brands Innovations in the 3rd quarter worth $31,000. 87.60% of the stock is currently owned by institutional investors.

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.