Ingalls & Snyder LLC Has $9.29 Million Stock Position in Fortune Brands Innovations, Inc. $FBIN

Ingalls & Snyder LLC lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 12.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,984 shares of the company’s stock after selling 25,467 shares during the quarter. Ingalls & Snyder LLC owned 0.14% of Fortune Brands Innovations worth $9,289,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FBIN. Qube Research & Technologies Ltd bought a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth about $87,611,000. Bank of New York Mellon Corp increased its stake in shares of Fortune Brands Innovations by 147.8% in the third quarter. Bank of New York Mellon Corp now owns 2,691,827 shares of the company’s stock worth $143,717,000 after purchasing an additional 1,605,453 shares during the period. Norges Bank acquired a new stake in Fortune Brands Innovations in the 2nd quarter valued at approximately $78,395,000. Balyasny Asset Management L.P. acquired a new position in shares of Fortune Brands Innovations during the second quarter worth approximately $77,441,000. Finally, First Pacific Advisors LP boosted its position in shares of Fortune Brands Innovations by 152.2% in the second quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company’s stock valued at $102,877,000 after acquiring an additional 1,205,880 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 2.9%

Shares of Fortune Brands Innovations stock opened at $52.82 on Wednesday. Fortune Brands Innovations, Inc. has a 12-month low of $44.04 and a 12-month high of $69.32. The stock has a market capitalization of $6.35 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 4.99 and a beta of 1.41. The company has a 50-day simple moving average of $55.39 and a 200 day simple moving average of $54.11. The company has a quick ratio of 0.89, a current ratio of 1.84 and a debt-to-equity ratio of 1.07.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.14). Fortune Brands Innovations had a net margin of 6.70% and a return on equity of 18.54%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. Research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Friday, February 20th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, February 20th. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. Fortune Brands Innovations’s dividend payout ratio is currently 40.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FBIN. Evercore reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. The Goldman Sachs Group reduced their price objective on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday. BMO Capital Markets decreased their price objective on Fortune Brands Innovations from $62.00 to $56.00 and set a “market perform” rating on the stock in a report on Tuesday. Vertical Research assumed coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price for the company. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Fortune Brands Innovations in a research note on Friday. Four research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average target price of $60.00.

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.