Wilmington Savings Fund Society FSB Has $1.40 Million Stock Holdings in Fortune Brands Innovations, Inc. $FBIN

Wilmington Savings Fund Society FSB grew its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 911.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,162 shares of the company’s stock after acquiring an additional 23,575 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Fortune Brands Innovations were worth $1,397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in Fortune Brands Innovations during the second quarter worth $26,000. Hilltop National Bank bought a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its holdings in Fortune Brands Innovations by 158.3% during the second 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. MassMutual Private Wealth & Trust FSB boosted its position in Fortune Brands Innovations by 119.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new position in Fortune Brands Innovations in the second quarter valued at approximately $34,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FBIN. Vertical Research assumed coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price objective on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $62.00 price target on shares of Fortune Brands Innovations in a research note on Friday, January 9th. Evercore ISI restated an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. UBS Group cut their target price on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Barclays raised their price objective on Fortune Brands Innovations from $63.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.33.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $61.65 on Monday. The stock has a 50 day simple moving average of $51.40 and a 200 day simple moving average of $53.55. The stock has a market cap of $7.41 billion, a P/E ratio of 23.00, a PEG ratio of 4.19 and a beta of 1.40. Fortune Brands Innovations, Inc. has a 1-year low of $44.04 and a 1-year high of $75.82. The company has a current ratio of 1.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.12.

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

Fortune Brands Innovations Increases Dividend

The firm 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 dividend of $0.26 per share. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, February 20th. Fortune Brands Innovations’s payout ratio is 37.31%.

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.