Y Intercept Hong Kong Ltd Increases Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Y Intercept Hong Kong Ltd grew its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1,285.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,726 shares of the company’s stock after purchasing an additional 125,003 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Fortune Brands Innovations were worth $5,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Danske Bank A S acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in 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 worth $28,000 after acquiring an additional 510 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Fortune Brands Innovations in the fourth quarter valued at $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Fortune Brands Innovations in the third quarter valued at $31,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $53.32 on Friday. 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, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The firm has a 50-day simple moving average of $41.05 and a 200-day simple moving average of $46.73. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 3.43 and a beta of 1.30.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, equities research 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 announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 46.22%.

Analyst Upgrades and Downgrades

FBIN has been the topic of several research reports. Robert W. Baird set a $44.00 price objective on Fortune Brands Innovations in a report on Friday, May 8th. Bank of America reduced their target price on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a report on Monday, April 20th. Royal Bank Of Canada decreased their target price on 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. JPMorgan Chase & Co. cut their price target on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Finally, Truist Financial upgraded Fortune Brands Innovations from a “hold” rating to a “buy” rating and boosted their price objective for the company from $45.00 to $70.00 in a research note on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.23.

Insider Activity

In related news, Director Edward P. Garden purchased 403,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average price of $33.40 per share, for a total transaction of $13,460,200.00. Following the completion of the purchase, the director directly owned 3,556,867 shares of the company’s stock, valued at $118,799,357.80. This trade represents a 12.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 786,367 shares of company stock valued at $28,653,958 over the last quarter. Insiders own 3.32% of the company’s stock.

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.