Cubist Systematic Strategies LLC Makes New $41.93 Million Investment in Fortune Brands Innovations, Inc. $FBIN

Cubist Systematic Strategies LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 814,519 shares of the company’s stock, valued at approximately $41,931,000. Cubist Systematic Strategies LLC owned approximately 0.68% of Fortune Brands Innovations at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Elevation Point Wealth Partners LLC bought a new position in Fortune Brands Innovations in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $27,000 after buying an additional 323 shares during the last quarter. National Pension Service grew its stake in shares of Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after buying an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Fortune Brands Innovations by 119.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after buying an additional 293 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new stake in Fortune Brands Innovations during the second quarter worth $34,000. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FBIN. Evercore ISI reissued an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. Royal Bank Of Canada reduced their price target on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Barclays dropped their price objective on Fortune Brands Innovations from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday. Vertical Research assumed coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 target price for the company. Finally, UBS Group decreased their target price on Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.20.

Fortune Brands Innovations Trading Down 0.4%

Shares of NYSE:FBIN opened at $52.23 on Friday. Fortune Brands Innovations, Inc. has a 12-month low of $44.04 and a 12-month high of $77.22. The business has a 50 day moving average of $49.84 and a 200-day moving average of $53.11. The company has a quick ratio of 0.94, a current ratio of 1.95 and a debt-to-equity ratio of 1.12. The stock has a market cap of $6.28 billion, a PE ratio of 19.49, a P/E/G ratio of 3.88 and a beta of 1.40.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.01). The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.28% and a net margin of 7.30%.The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. As a group, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be given a $0.26 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 37.31%.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.