1,006,752 Shares in Fortune Brands Innovations, Inc. $FBIN Purchased by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the second quarter, HoldingsChannel.com reports. The firm purchased 1,006,752 shares of the company’s stock, valued at approximately $55,271,000.

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

Fortune Brands Innovations Stock Up 0.0%

Shares of FBIN opened at $47.86 on Monday. The business’s fifty day moving average price is $48.32 and its two-hundred day moving average price is $45.78. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 38.91, a PEG ratio of 4.00 and a beta of 1.31. Fortune Brands Innovations, Inc. has a 52 week low of $32.34 and a 52 week high of $64.84. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.55. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The firm’s quarterly 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. On average, analysts predict that Fortune Brands Innovations, Inc. will post 3.36 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

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

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Jesse G. Singh bought 19,725 shares of Fortune Brands Innovations stock in a transaction dated Thursday, August 6th. The shares were bought at an average price of $51.66 per share, with a total value of $1,018,993.50. Following the purchase, the chief executive officer owned 19,725 shares of the company’s stock, valued at $1,018,993.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward P. Garden bought 403,000 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $33.40 per share, for a total transaction of $13,460,200.00. Following the purchase, the director directly owned 3,556,867 shares in the company, valued at approximately $118,799,357.80. The trade was a 12.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 825,652 shares of company stock worth $30,669,143. Corporate insiders own 3.32% of the company’s stock.

Analysts Set New Price Targets

FBIN has been the topic of a number of recent analyst reports. Evercore set a $56.00 price objective on Fortune Brands Innovations in a research note on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $68.00 price target on shares of Fortune Brands Innovations in a report on Wednesday, August 5th. Bank of America reduced their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Finally, Barclays lowered their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.33.

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.