Fortune Brands Innovations, Inc. $FBIN Stake Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 82.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,837 shares of the company’s stock after selling 78,719 shares during the period. Hsbc Holdings PLC’s holdings in Fortune Brands Innovations were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aquatic Capital Management LLC boosted its position in Fortune Brands Innovations by 75.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 95,042 shares of the company’s stock worth $5,074,000 after acquiring an additional 40,898 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Fortune Brands Innovations by 7.3% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company’s stock valued at $27,723,000 after purchasing an additional 37,861 shares during the period. Black Cypress Capital Management LLC increased its holdings in shares of Fortune Brands Innovations by 22.6% during the fourth quarter. Black Cypress Capital Management LLC now owns 150,825 shares of the company’s stock valued at $7,544,000 after purchasing an additional 27,824 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fortune Brands Innovations by 2,071.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 147,689 shares of the company’s stock valued at $7,387,000 after purchasing an additional 140,888 shares in the last quarter. Finally, Systematic Financial Management LP bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $14,328,000. 87.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price objective 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. Royal Bank Of Canada dropped 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. Barclays boosted their price target on shares of Fortune Brands Innovations from $41.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Bank of America decreased 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.38.

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Edward P. Garden bought 320,067 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average cost of $40.60 per share, with a total value of $12,994,720.20. Following the completion of the purchase, the director directly owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. This trade represents a 8.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have purchased 786,367 shares of company stock worth $28,653,958 over the last ninety days. 3.32% of the stock is owned by corporate insiders.

Fortune Brands Innovations Trading Up 0.8%

Shares of Fortune Brands Innovations stock opened at $50.66 on Wednesday. The business has a fifty day simple moving average of $42.41 and a 200-day simple moving average of $46.66. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 3.24 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm 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 company earned $0.66 earnings per share. Fortune Brands Innovations’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were given a dividend of $0.26 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 46.22%.

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.