BNP Paribas Financial Markets Cuts Stake in Fortune Brands Innovations, Inc. $FBIN

BNP Paribas Financial Markets lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 274,178 shares of the company’s stock after selling 38,214 shares during the quarter. BNP Paribas Financial Markets’ holdings in Fortune Brands Innovations were worth $13,714,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of FBIN. Danske Bank A S purchased a new position in Fortune Brands Innovations during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC raised its position in Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of 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 valued at $28,000 after purchasing an additional 510 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $39.06 on Monday. Fortune Brands Innovations, Inc. has a 12-month low of $32.34 and a 12-month high of $64.84. The stock has a market capitalization of $4.66 billion, a P/E ratio of 17.36, a P/E/G ratio of 2.52 and a beta of 1.37. The firm’s 50-day moving average is $38.63 and its two-hundred day moving average is $47.34. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the company earned $0.66 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts predict that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

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 paid a dividend of $0.26 per share. 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 (DPR) is currently 46.22%.

Insider Activity

In related news, Director Edward P. Garden bought 57,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $34.89 per share, with a total value of $2,002,686.00. Following the completion of the transaction, the director owned 3,620,167 shares of the company’s stock, valued at approximately $126,307,626.63. The trade was a 1.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 466,300 shares of company stock valued at $15,659,238 over the last 90 days. 3.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FBIN. Zacks Research downgraded shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Zelman & Associates downgraded shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a report on Friday, February 13th. BMO Capital Markets cut their price target 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. UBS Group cut their price target on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Truist Financial cut 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 report on Friday, May 8th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.