Black Cypress Capital Management LLC Grows Position in Fortune Brands Innovations, Inc. $FBIN

Black Cypress Capital Management LLC increased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,825 shares of the company’s stock after purchasing an additional 27,824 shares during the period. Fortune Brands Innovations accounts for about 5.3% of Black Cypress Capital Management LLC’s portfolio, making the stock its 7th largest position. Black Cypress Capital Management LLC’s holdings in Fortune Brands Innovations were worth $7,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Assetmark Inc. raised its position in Fortune Brands Innovations by 1.2% during the 4th quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock worth $887,000 after buying an additional 208 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Fortune Brands Innovations by 3.0% in the 4th quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company’s stock worth $366,000 after acquiring an additional 213 shares in the last quarter. UMB Bank n.a. boosted its stake in Fortune Brands Innovations by 8.3% during the 3rd quarter. UMB Bank n.a. now owns 2,794 shares of the company’s stock worth $149,000 after purchasing an additional 215 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Fortune Brands Innovations by 1.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company’s stock worth $1,139,000 after purchasing an additional 219 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Fortune Brands Innovations by 11.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,166 shares of the company’s stock worth $116,000 after purchasing an additional 220 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

FBIN stock opened at $38.94 on Friday. The company has a market capitalization of $4.65 billion, a P/E ratio of 17.31, a PEG ratio of 2.52 and a beta of 1.40. Fortune Brands Innovations, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84. The business has a 50 day simple moving average of $38.68 and a 200-day simple moving average of $47.67. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data 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 the consensus estimate of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 3.13 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is presently 46.22%.

Insider Buying and Selling at Fortune Brands Innovations

In other news, Director Edward P. Garden acquired 57,400 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $34.89 per share, with a total value of $2,002,686.00. Following the completion of the acquisition, the director owned 3,620,167 shares of the company’s stock, valued at $126,307,626.63. The trade was a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 466,300 shares of company stock valued at $15,659,238 over the last three months. 3.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Zelman & Associates cut shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. The Goldman Sachs Group cut their price target on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. UBS Group cut their target price on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Zacks Research lowered shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $51.31.

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.