Fortune Brands Innovations (NYSE:FBIN) Director Edward Garden Purchases 320,067 Shares

Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Edward Garden bought 320,067 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was purchased at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the acquisition, the director directly owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. The trade was a 8.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Fortune Brands Innovations Trading Up 6.2%

Shares of Fortune Brands Innovations stock traded up $2.49 on Thursday, hitting $42.92. The stock had a trading volume of 2,562,832 shares, compared to its average volume of 2,790,856. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. Fortune Brands Innovations, Inc. has a one year low of $32.34 and a one year high of $64.84. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.67 and a beta of 1.37. The stock’s 50-day simple moving average is $38.78 and its two-hundred day simple moving average is $47.25.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business earned $0.66 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 3.13 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 2.4%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 46.22%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank Of Canada dropped their price target on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Bank of America dropped their price target on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a research note on Monday, April 20th. Wolfe Research set a $64.00 price target on Fortune Brands Innovations in a research note on Friday, February 13th. Zacks Research lowered Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, BMO Capital Markets dropped their price target on Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus target price of $51.31.

Hedge Funds Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new position in Fortune Brands Innovations during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its position in Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after buying an additional 323 shares during the period. V Square Quantitative Management LLC purchased a new position in Fortune Brands Innovations during the fourth quarter valued at $28,000. Cary Street Partners Investment Advisory LLC lifted its position in Fortune Brands Innovations by 1,275.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after buying an additional 510 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Fortune Brands Innovations during the first quarter valued at $30,000. Hedge funds and other institutional investors own 87.60% 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.