Rafferty Asset Management LLC Purchases 52,598 Shares of Fortune Brands Innovations, Inc. $FBIN

Rafferty Asset Management LLC lifted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 118.3% during the 3rd quarter, Holdings Channel reports. The firm owned 97,063 shares of the company’s stock after purchasing an additional 52,598 shares during the quarter. Rafferty Asset Management LLC’s holdings in Fortune Brands Innovations were worth $5,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FBIN. Elevation Point Wealth Partners LLC acquired a new position in Fortune Brands Innovations during the second quarter worth approximately $26,000. Hilltop National Bank bought a new position in shares of Fortune Brands Innovations during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased 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 worth $27,000 after acquiring an additional 323 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at $34,000. Finally, Covestor Ltd lifted its holdings in Fortune Brands Innovations by 557.5% during the 3rd quarter. Covestor Ltd now owns 881 shares of the company’s stock valued at $47,000 after purchasing an additional 747 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN opened at $52.35 on Tuesday. Fortune Brands Innovations, Inc. has a 12-month low of $44.04 and a 12-month high of $65.84. The company’s 50 day moving average price is $55.89 and its two-hundred day moving average price is $53.94. The firm has a market cap of $6.28 billion, a PE ratio of 21.19, a PEG ratio of 2.31 and a beta of 1.41. The company has a quick ratio of 0.89, a current ratio of 1.84 and a debt-to-equity ratio of 1.07.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.14). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a net margin of 6.70% and a return on equity of 18.54%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. Equities 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, February 20th. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.25. Fortune Brands Innovations’s dividend payout ratio is currently 42.11%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday, December 29th. The Goldman Sachs Group decreased their price target on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Zelman & Associates downgraded shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research report on Friday, February 13th. BMO Capital Markets reduced their price objective on Fortune Brands Innovations from $62.00 to $56.00 and set a “market perform” rating for the company in a report on Tuesday, February 17th. Finally, Zacks Research lowered Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.00.

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.