Vulcan Value Partners LLC Buys 54,492 Shares of Fortune Brands Innovations, Inc. $FBIN

Vulcan Value Partners LLC raised its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 18.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 353,520 shares of the company’s stock after purchasing an additional 54,492 shares during the period. Vulcan Value Partners LLC’s holdings in Fortune Brands Innovations were worth $17,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Danske Bank A S bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Fortune Brands Innovations by 1,275.0% during 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 during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at about $31,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $39.49 on Thursday. 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, Inc. has a 1-year low of $32.34 and a 1-year high of $64.84. The firm has a market capitalization of $4.71 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 2.48 and a beta of 1.40. The company’s 50-day moving average is $38.79 and its 200 day moving average is $47.80.

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, hitting analysts’ consensus estimates 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 analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. Research analysts forecast 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. Investors of record on Friday, May 22nd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is 46.22%.

Insiders Place Their Bets

In other news, Director Edward P. Garden acquired 57,400 shares of Fortune Brands Innovations stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $34.89 per share, with a total value of $2,002,686.00. Following the transaction, the director directly owned 3,620,167 shares of the company’s stock, valued at $126,307,626.63. This trade represents a 1.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 466,300 shares of company stock valued at $15,659,238. Corporate insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FBIN. Robert W. Baird set a $44.00 price objective on shares of Fortune Brands Innovations in a report on Friday, May 8th. Bank of America dropped their price objective on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a report on Monday, April 20th. BMO Capital Markets dropped 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. The Goldman Sachs Group dropped their price objective on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Barclays decreased their target price on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.