Canada Pension Plan Investment Board Purchases New Shares in Fortune Brands Innovations, Inc. $FBIN

Canada Pension Plan Investment Board purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,740,128 shares of the company’s stock, valued at approximately $95,533,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in Fortune Brands Innovations in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Fortune Brands Innovations by 1,275.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock worth $28,000 after buying an additional 510 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth approximately $30,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Fortune Brands Innovations by 628.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company’s stock valued at $30,000 after acquiring an additional 522 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Trading Up 1.2%

Shares of FBIN stock opened at $46.23 on Thursday. The company has a 50 day moving average of $48.95 and a 200-day moving average of $45.17. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 1.11. Fortune Brands Innovations, Inc. has a 12-month low of $32.34 and a 12-month high of $64.84. The firm has a market cap of $5.52 billion, a P/E ratio of 37.59, a PEG ratio of 3.86 and a beta of 1.31.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.55. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. Fortune Brands Innovations’s revenue was down 4.1% on a year-over-year basis. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 3.32 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Friday, August 21st will be paid a $0.26 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. Fortune Brands Innovations’s payout ratio is presently 84.55%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Evercore set a $56.00 price target on Fortune Brands Innovations in a research report on Wednesday, August 5th. Weiss Ratings raised Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Zacks Research upgraded Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Robert W. Baird set a $44.00 target price on Fortune Brands Innovations in a research report on Friday, May 8th. Finally, BMO Capital Markets lifted their target price on Fortune Brands Innovations from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and an average price target of $55.71.

Insider Buying and Selling at Fortune Brands Innovations

In other news, Director Edward P. Garden purchased 320,067 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average price of $40.60 per share, with a total value of $12,994,720.20. Following the transaction, the director directly owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. This represents a 8.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jesse G. Singh purchased 19,560 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $50.93 per share, with a total value of $996,190.80. Following the purchase, the chief executive officer directly owned 39,285 shares in the company, valued at $2,000,785.05. This trade represents a 99.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 359,352 shares of company stock worth $15,009,905. Corporate insiders own 3.32% of the company’s stock.

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.