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

KBC Group NV boosted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,186,325 shares of the company’s stock after buying an additional 18,893 shares during the period. KBC Group NV owned 0.99% of Fortune Brands Innovations worth $46,231,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FBIN. Royal Bank of Canada boosted its position in shares of Fortune Brands Innovations by 0.8% during the first quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock valued at $2,539,000 after purchasing an additional 324 shares in the last quarter. Empowered Funds LLC raised its holdings in Fortune Brands Innovations by 20.5% in the first quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock worth $629,000 after purchasing an additional 1,761 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock valued at $52,000 after buying an additional 388 shares during the period. Cetera Investment Advisers lifted its position in Fortune Brands Innovations by 7.6% during the second quarter. Cetera Investment Advisers now owns 10,382 shares of the company’s stock valued at $534,000 after buying an additional 731 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after buying an additional 323 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on FBIN. Bank of America reduced their target price on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Barclays raised their target price on shares of Fortune Brands Innovations from $41.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 14th. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a research report on Friday, May 8th. Royal Bank Of Canada dropped their price target on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 2nd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.38.

Insider Transactions at Fortune Brands Innovations

In related news, Director Edward P. Garden bought 320,067 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was acquired at an average price of $40.60 per share, with a total value of $12,994,720.20. Following the transaction, the director owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. This trade represents a 8.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased a total of 786,367 shares of company stock valued at $28,653,958 in the last 90 days. Company insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Price Performance

FBIN opened at $50.24 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13. The stock has a market capitalization of $5.99 billion, a P/E ratio of 22.33, a P/E/G ratio of 3.32 and a beta of 1.30. The company’s 50-day simple moving average is $43.43 and its two-hundred day simple moving average is $46.67. Fortune Brands Innovations, Inc. has a 52-week low of $32.34 and a 52-week high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 last year, the firm posted $0.66 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

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