Edward Garden Acquires 320,067 Shares of Fortune Brands Innovations (NYSE:FBIN) Stock

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden acquired 320,067 shares of the stock in a transaction on Wednesday, June 10th. The shares were purchased at an average cost of $40.60 per share, with a total value of $12,994,720.20. Following the transaction, the director directly owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. This trade represents a 8.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fortune Brands Innovations Stock Up 6.2%

Fortune Brands Innovations stock traded up $2.49 on Thursday, hitting $42.92. 2,562,832 shares of the stock traded hands, compared to its average volume of 2,790,856. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The firm has a market cap of $5.12 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.67 and a beta of 1.37. The business’s fifty day simple moving average is $38.78 and its 200 day simple moving average is $47.25. Fortune Brands Innovations, Inc. has a 1 year low of $32.34 and a 1 year high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.66 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued 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 2.4%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analyst Weigh In

FBIN has been the subject of several analyst reports. Zacks Research downgraded Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. UBS Group reduced their price target on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, May 8th. Barclays reduced their price target on Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Truist Financial reduced their price target on Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, May 8th. Finally, Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.31.

Institutional Investors Weigh In On Fortune Brands Innovations

Large investors have recently bought and sold shares of the business. Danske Bank A S bought a new stake in Fortune Brands Innovations in the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake 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 period. Cary Street Partners Investment Advisory LLC grew its stake 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 period. V Square Quantitative Management LLC bought a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $28,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $31,000. 87.60% of the stock is currently owned by institutional investors.

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.