14,634 Shares in Fortune Brands Innovations, Inc. $FBIN Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,634 shares of the company’s stock, valued at approximately $734,000.

Several other hedge funds have also modified their holdings of FBIN. Balyasny Asset Management L.P. acquired a new stake in shares of Fortune Brands Innovations in the second quarter worth approximately $77,441,000. Jane Street Group LLC lifted its position in Fortune Brands Innovations by 4,811.9% during the second quarter. Jane Street Group LLC now owns 766,264 shares of the company’s stock valued at $39,447,000 after buying an additional 750,664 shares in the last quarter. Freestone Grove Partners LP lifted its position in Fortune Brands Innovations by 1,390.6% during the third quarter. Freestone Grove Partners LP now owns 800,375 shares of the company’s stock valued at $42,732,000 after buying an additional 746,679 shares in the last quarter. Bank of America Corp DE lifted its position in Fortune Brands Innovations by 82.7% during the third quarter. Bank of America Corp DE now owns 1,420,708 shares of the company’s stock valued at $75,852,000 after buying an additional 643,247 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in Fortune Brands Innovations by 339.4% during the second quarter. Squarepoint Ops LLC now owns 749,466 shares of the company’s stock valued at $38,583,000 after buying an additional 578,882 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 0.8%

Shares of NYSE:FBIN opened at $38.89 on Thursday. 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, Inc. has a 12-month low of $32.34 and a 12-month high of $64.84. The company has a fifty day simple moving average of $38.64 and a 200 day simple moving average of $47.45. The firm has a market cap of $4.64 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.53 and a beta of 1.37.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.13 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Edward P. Garden bought 57,400 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $34.89 per share, for a total transaction of $2,002,686.00. Following the completion of the purchase, the director directly owned 3,620,167 shares in the company, valued at approximately $126,307,626.63. This trade represents a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 466,300 shares of company stock worth $15,659,238 in the last three months. 3.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of recent research reports. BMO Capital Markets reduced their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Zacks Research cut shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. UBS Group reduced their price target on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada reduced their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, Zelman & Associates cut shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $51.31.

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.