KBC Group NV Purchases 18,893 Shares of Fortune Brands Innovations, Inc. $FBIN

KBC Group NV boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.6% during the 1st quarter, HoldingsChannel reports. The firm owned 1,186,325 shares of the company’s stock after purchasing an additional 18,893 shares during the period. KBC Group NV’s holdings in Fortune Brands Innovations were worth $46,231,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Swiss National Bank increased its position in shares of Fortune Brands Innovations by 0.5% during the 1st quarter. Swiss National Bank now owns 237,800 shares of the company’s stock valued at $9,267,000 after purchasing an additional 1,100 shares during the last quarter. IMA Advisory Services Inc. boosted its holdings in shares of Fortune Brands Innovations by 3.3% in the first quarter. IMA Advisory Services Inc. now owns 9,713 shares of the company’s stock worth $379,000 after buying an additional 306 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Fortune Brands Innovations by 2.0% in the first quarter. California Public Employees Retirement System now owns 246,346 shares of the company’s stock worth $9,600,000 after buying an additional 4,910 shares during the last quarter. Assetmark Inc. grew its position in Fortune Brands Innovations by 61.6% during the first quarter. Assetmark Inc. now owns 28,641 shares of the company’s stock valued at $1,116,000 after buying an additional 10,913 shares during the period. Finally, Sanctuary Advisors LLC grew its position in Fortune Brands Innovations by 36.9% during the first quarter. Sanctuary Advisors LLC now owns 7,899 shares of the company’s stock valued at $308,000 after buying an additional 2,130 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Trading Down 2.4%

Shares of FBIN opened at $50.24 on Tuesday. The firm has a market cap of $5.99 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 3.32 and a beta of 1.30. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. Fortune Brands Innovations, Inc. has a 1 year low of $32.34 and a 1 year high of $64.84. The company has a 50 day simple moving average of $43.43 and a two-hundred day simple moving average of $46.67.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, May 7th. The company reported $0.53 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 the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities analysts expect that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, August 21st. Fortune Brands Innovations’s payout ratio is currently 46.22%.

Wall Street Analyst Weigh In

FBIN has been the topic of several recent research reports. Weiss Ratings upgraded shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. Zacks Research raised shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. The Goldman Sachs Group boosted their price objective on shares of Fortune Brands Innovations from $50.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, July 10th. UBS Group reduced their price objective on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.38.

Insider Buying and Selling

In related news, Director Edward P. Garden purchased 320,067 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the purchase, the director directly owned 3,940,234 shares in the company, valued at $159,973,500.40. This trade represents a 8.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 786,367 shares of company stock valued at $28,653,958. 3.32% of the stock is owned by insiders.

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.