First Trust Advisors LP Purchases 26,259 Shares of Fortune Brands Innovations, Inc. $FBIN

First Trust Advisors LP lifted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.9% during the 1st quarter, Holdings Channel reports. The fund owned 926,444 shares of the company’s stock after acquiring an additional 26,259 shares during the quarter. First Trust Advisors LP’s holdings in Fortune Brands Innovations were worth $36,103,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Royal Bank of Canada increased its holdings in Fortune Brands Innovations by 0.8% during the 1st quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock valued at $2,539,000 after purchasing an additional 324 shares in the last quarter. Empowered Funds LLC boosted its stake in Fortune Brands Innovations by 20.5% in the first quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock worth $629,000 after purchasing an additional 1,761 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Fortune Brands Innovations by 83.6% in the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after purchasing an additional 388 shares in the last quarter. Cetera Investment Advisers boosted its stake in Fortune Brands Innovations by 7.6% in the second quarter. Cetera Investment Advisers now owns 10,382 shares of the company’s stock worth $534,000 after purchasing an additional 731 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after purchasing an additional 323 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

FBIN opened at $51.51 on Tuesday. The company has a fifty day moving average price of $44.93 and a two-hundred day moving average price of $46.65. The firm has a market capitalization of $6.14 billion, a PE ratio of 22.89, a P/E/G ratio of 3.31 and a beta of 1.30. Fortune Brands Innovations, Inc. has a 52 week low of $32.34 and a 52 week high of $64.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting 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 company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 21st. Fortune Brands Innovations’s dividend payout ratio is currently 46.22%.

Analyst Ratings Changes

A number of research firms recently issued reports on FBIN. Weiss Ratings cut Fortune Brands Innovations from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. UBS Group decreased their price objective on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada lowered their price objective on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. BMO Capital Markets dropped their target price on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. Finally, Bank of America reduced 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. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.38.

Insiders Place Their Bets

In related news, Director Edward P. Garden bought 403,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average price of $33.40 per share, with a total value of $13,460,200.00. Following the completion of the purchase, the director owned 3,556,867 shares of the company’s stock, valued at $118,799,357.80. This represents a 12.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders bought a total of 786,367 shares of company stock valued at $28,653,958 over the last quarter. Corporate insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Company 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.