Assetmark Inc. Boosts Stake in Fortune Brands Innovations, Inc. $FBIN

Assetmark Inc. increased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 52,990.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,520 shares of the company’s stock after purchasing an additional 17,487 shares during the quarter. Assetmark Inc.’s holdings in Fortune Brands Innovations were worth $935,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in 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 buying an additional 1,605,453 shares in the last quarter. First Pacific Advisors LP increased its holdings in Fortune Brands Innovations by 152.2% in the 2nd quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company’s stock worth $102,877,000 after acquiring an additional 1,205,880 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Fortune Brands Innovations during the 2nd quarter worth approximately $87,611,000. Norges Bank purchased a new position in Fortune Brands Innovations during the second quarter valued at approximately $78,395,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Fortune Brands Innovations in the second quarter worth approximately $77,441,000. Institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

FBIN has been the topic of several recent analyst reports. Wolfe Research set a $64.00 price objective on shares of Fortune Brands Innovations in a research report on Friday, February 13th. Barclays lowered Fortune Brands Innovations from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $68.00 to $55.00 in a research note on Friday, February 13th. BMO Capital Markets lowered their price objective on Fortune Brands Innovations from $62.00 to $56.00 and set a “market perform” rating on the stock in a research report on Tuesday. The Goldman Sachs Group cut their target price on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Zelman & Associates downgraded Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.00.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $54.35 on Friday. The stock has a 50 day moving average of $55.52 and a 200 day moving average of $54.09. Fortune Brands Innovations, Inc. has a 12 month low of $44.04 and a 12 month high of $67.43. The firm has a market cap of $6.53 billion, a PE ratio of 22.00, a PEG ratio of 3.32 and a beta of 1.41. The company has a current ratio of 1.84, a quick ratio of 0.89 and a debt-to-equity ratio of 1.07.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 12th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.14 billion. During the same period last year, the business posted $0.98 earnings per share. 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. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be issued a $0.26 dividend. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 40.49%.

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.