52,781 Shares in Fortune Brands Innovations, Inc. $FBIN Purchased by Caxton Associates LLP

Caxton Associates LLP bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 52,781 shares of the company’s stock, valued at approximately $2,717,000.

Other hedge funds also recently modified their holdings of the company. Elevation Point Wealth Partners LLC purchased a new position in shares of Fortune Brands Innovations during the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after acquiring an additional 323 shares during the last quarter. National Pension Service lifted its stake in shares of Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after purchasing an additional 199 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Fortune Brands Innovations by 119.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after purchasing an additional 293 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Fortune Brands Innovations in the second quarter valued at $34,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Evercore ISI reissued an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. Vertical Research initiated coverage on shares of Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price target on the stock. Truist Financial reiterated a “hold” rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. UBS Group lowered their price objective on Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday, December 8th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and a consensus price target of $64.20.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $52.23 on Monday. The company has a market cap of $6.28 billion, a P/E ratio of 19.49, a PEG ratio of 3.86 and a beta of 1.40. The business has a 50 day moving average of $49.84 and a two-hundred day moving average of $53.15. Fortune Brands Innovations, Inc. has a 52 week low of $44.04 and a 52 week high of $77.22. The company has a quick ratio of 0.94, a current ratio of 1.95 and a debt-to-equity ratio of 1.12.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.01). The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.28% and a net margin of 7.30%.The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be given a dividend of $0.26 per share. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, February 20th. Fortune Brands Innovations’s payout ratio is currently 37.31%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.