Eurizon Capital SGR S.p.A. Takes Position in Fortune Brands Innovations, Inc. $FBIN
by Sarita Garza · The Markets DailyEurizon Capital SGR S.p.A. purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,634 shares of the company’s stock, valued at approximately $734,000.
Several other hedge funds and other institutional investors also recently modified their holdings of FBIN. Danske Bank A S acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 323 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $28,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of 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 acquiring an additional 510 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Fortune Brands Innovations in the third quarter worth about $31,000. Institutional investors and hedge funds own 87.60% of the company’s stock.
Fortune Brands Innovations Stock Performance
FBIN stock opened at $38.89 on Thursday. 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 company has a 50-day simple moving average of $38.64 and a 200 day simple moving average of $47.45. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The company has a market capitalization of $4.64 billion, a P/E ratio of 17.28, a PEG ratio of 2.53 and a beta of 1.37.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last issued its quarterly 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 analysts’ expectations of $1.01 billion. During the same period in the previous year, the business earned $0.66 earnings per share. Fortune Brands Innovations’s revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 3.13 earnings per share for the current fiscal year.
Fortune Brands Innovations Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be given a $0.26 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.04 annualized dividend and a yield of 2.7%. Fortune Brands Innovations’s payout ratio is 46.22%.
Insider Buying and Selling
In other Fortune Brands Innovations news, Director Edward P. Garden purchased 57,400 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $34.89 per share, for a total transaction of $2,002,686.00. Following the completion of the transaction, the director owned 3,620,167 shares in the company, valued at $126,307,626.63. The trade was a 1.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 466,300 shares of company stock valued at $15,659,238 in the last quarter. 3.32% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
FBIN has been the subject of several research analyst reports. Zacks Research downgraded shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Barclays reduced their price objective on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. BMO Capital Markets reduced their price objective on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average price target of $51.31.
View Our Latest Stock Report on Fortune Brands Innovations
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.
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