26,839 Shares in Fortune Brands Innovations, Inc. $FBIN Bought by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,839 shares of the company’s stock, valued at approximately $1,433,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tributary Capital Management LLC grew its position in Fortune Brands Innovations by 97.2% during the 3rd quarter. Tributary Capital Management LLC now owns 27,108 shares of the company’s stock worth $1,447,000 after purchasing an additional 13,363 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Fortune Brands Innovations by 68.1% during the third quarter. SG Americas Securities LLC now owns 10,847 shares of the company’s stock worth $579,000 after buying an additional 4,393 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Fortune Brands Innovations during the third quarter valued at $292,000. CX Institutional grew its holdings in shares of Fortune Brands Innovations by 22,269.6% during the third quarter. CX Institutional now owns 108,269 shares of the company’s stock valued at $5,780,000 after buying an additional 107,785 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at $212,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $54.88 on Friday. The company has a market capitalization of $6.59 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 3.54 and a beta of 1.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.94 and a current ratio of 1.95. The company’s fifty day moving average price is $50.21 and its 200 day moving average price is $53.20. Fortune Brands Innovations, Inc. has a 1 year low of $44.04 and a 1 year high of $75.82.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.01). Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Friday, February 20th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, February 20th. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 1.9%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 37.31%.

Wall Street Analysts Forecast Growth

FBIN has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday, December 29th. Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a report on Friday, October 31st. Vertical Research began coverage on Fortune Brands Innovations in a report on Tuesday, October 21st. They set a “hold” rating and a $52.00 target price for the company. Barclays cut their price target on shares of Fortune Brands Innovations from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, December 8th. Finally, UBS Group reduced their price target on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.20.

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.