Fortune Brands Innovations, Inc. $FBIN Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 7.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,064,086 shares of the company’s stock after acquiring an additional 271,371 shares during the period. Dimensional Fund Advisors LP owned 3.39% of Fortune Brands Innovations worth $158,362,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pictet Asset Management Holding SA lifted its position in Fortune Brands Innovations by 74.0% in the first quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company’s stock worth $303,757,000 after purchasing an additional 3,317,232 shares during the period. Orbis Allan Gray Ltd grew its holdings in shares of Fortune Brands Innovations by 586.7% during the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock valued at $363,760,000 after acquiring an additional 6,213,274 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Fortune Brands Innovations by 20.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,236,159 shares of the company’s stock worth $161,873,000 after buying an additional 544,332 shares during the last quarter. Amundi increased its position in Fortune Brands Innovations by 15.2% during the third quarter. Amundi now owns 2,879,208 shares of the company’s stock worth $152,263,000 after buying an additional 380,275 shares during the last quarter. Finally, Freestone Grove Partners LP raised its position in shares of Fortune Brands Innovations by 143.6% in the fourth quarter. Freestone Grove Partners LP now owns 1,949,958 shares of the company’s stock valued at $97,537,000 after purchasing an additional 1,149,583 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FBIN has been the subject of several research reports. Bank of America reduced their price objective on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. JPMorgan Chase & Co. cut their target price on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Truist Financial upgraded shares of Fortune Brands Innovations from a “hold” rating to a “buy” rating and raised their price target for the stock from $45.00 to $70.00 in a research report on Tuesday, June 30th. Zacks Research upgraded shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Barclays boosted their price objective on shares of Fortune Brands Innovations from $41.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.38.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden acquired 403,000 shares of Fortune Brands Innovations stock in a transaction on Tuesday, May 19th. The shares were bought at an average price of $33.40 per share, with a total value of $13,460,200.00. Following the completion of the purchase, the director owned 3,556,867 shares in the company, 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 legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders acquired 786,367 shares of company stock valued at $28,653,958. Insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $51.26 on Monday. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $6.12 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 3.31 and a beta of 1.30. Fortune Brands Innovations, Inc. has a 12-month low of $32.34 and a 12-month high of $64.84. The firm has a 50-day moving average price of $44.58 and a 200 day moving average price of $46.66.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.53 EPS 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. Fortune Brands Innovations’s quarterly revenue was down 2.1% on a year-over-year basis. Research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Friday, August 21st will be paid a $0.26 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. Fortune Brands Innovations’s payout ratio is 46.22%.

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.