Fortune Brands Innovations (NYSE:FBIN) Director Purchases $2,002,686.00 in Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden purchased 57,400 shares of the stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $34.89 per share, for a total transaction of $2,002,686.00. Following the transaction, the director owned 3,620,167 shares of the company’s stock, valued at approximately $126,307,626.63. The trade was a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $37.64 on Friday. The business’s 50 day moving average price is $39.09 and its two-hundred day moving average price is $48.06. The company has a market cap of $4.49 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40. 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, Inc. has a twelve month low of $32.34 and a twelve month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, analysts predict that Fortune Brands Innovations, Inc. will post 3.13 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s payout ratio is 46.22%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FBIN shares. Zelman & Associates downgraded Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research report on Friday, February 13th. Royal Bank Of Canada lowered their price target on 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. The Goldman Sachs Group lowered their price target on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a research report on Friday, May 8th. Finally, Zacks Research downgraded Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.31.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its position in Fortune Brands Innovations by 0.8% during the fourth quarter. Osaic Holdings Inc. now owns 24,447 shares of the company’s stock worth $1,223,000 after buying an additional 198 shares in the last quarter. Assetmark Inc. grew its position in Fortune Brands Innovations by 1.2% during the fourth quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock worth $887,000 after buying an additional 208 shares in the last quarter. TD Private Client Wealth LLC grew its position in Fortune Brands Innovations by 3.0% during the fourth quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company’s stock worth $366,000 after buying an additional 213 shares in the last quarter. UMB Bank n.a. grew its position in Fortune Brands Innovations by 8.3% during the third quarter. UMB Bank n.a. now owns 2,794 shares of the company’s stock worth $149,000 after buying an additional 215 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Fortune Brands Innovations by 1.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company’s stock worth $1,139,000 after buying an additional 219 shares in the last quarter. Institutional investors and hedge funds own 87.60% 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.