Fortune Brands Innovations, Inc. $FBIN Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 112.7% in the 4th quarter, HoldingsChannel reports. The firm owned 43,447 shares of the company’s stock after purchasing an additional 23,022 shares during the period. Corient Private Wealth LLC’s holdings in Fortune Brands Innovations were worth $2,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in FBIN. Henson Edgewater Management LLC purchased a new stake in Fortune Brands Innovations in the 4th quarter valued at approximately $443,000. Kera Capital Partners Inc. purchased a new position in shares of Fortune Brands Innovations during the 4th quarter worth approximately $298,000. Invesco Ltd. raised its stake in shares of Fortune Brands Innovations by 25.4% during the 4th quarter. Invesco Ltd. now owns 277,222 shares of the company’s stock worth $13,867,000 after buying an additional 56,099 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Fortune Brands Innovations by 90.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 24,402 shares of the company’s stock valued at $1,221,000 after buying an additional 11,580 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its holdings in shares of Fortune Brands Innovations by 5.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 8,045 shares of the company’s stock valued at $402,000 after buying an additional 389 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 10.7%

Fortune Brands Innovations stock opened at $50.87 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 2.96 and a beta of 1.37. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The stock’s fifty day moving average is $39.98 and its two-hundred day moving average is $46.64.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.53 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts predict that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were given a $0.26 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio is currently 46.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FBIN shares. Weiss Ratings lowered Fortune Brands Innovations from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. Barclays reduced their target price on Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Bank of America decreased their target price on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Robert W. Baird set a $44.00 price target on shares of Fortune Brands Innovations in a research note on Friday, May 8th. Finally, 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. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and an average price target of $51.31.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden acquired 403,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the purchase, the director directly owned 3,556,867 shares in the company, valued at approximately $118,799,357.80. This trade represents a 12.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have purchased 786,367 shares of company stock worth $28,653,958. Company insiders own 3.32% of the company’s stock.

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.