JPMorgan Chase & Co. Sells 45,089 Shares of Fortune Brands Innovations, Inc. $FBIN

JPMorgan Chase & Co. decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,526,503 shares of the company’s stock after selling 45,089 shares during the quarter. JPMorgan Chase & Co.’s holdings in Fortune Brands Innovations were worth $134,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FBIN. First Trust Advisors LP raised its position in shares of Fortune Brands Innovations by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 1,165,342 shares of the company’s stock valued at $59,992,000 after acquiring an additional 97,662 shares during the period. CX Institutional increased its stake in Fortune Brands Innovations by 22,269.6% in the third quarter. CX Institutional now owns 108,269 shares of the company’s stock valued at $5,780,000 after purchasing an additional 107,785 shares in the last quarter. Keeler Thomas Management LLC acquired a new stake in Fortune Brands Innovations in the second quarter worth $920,000. Teacher Retirement System of Texas boosted its position in shares of Fortune Brands Innovations by 63.0% during the second quarter. Teacher Retirement System of Texas now owns 29,593 shares of the company’s stock worth $1,523,000 after purchasing an additional 11,433 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at $2,717,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Up 0.5%

Shares of Fortune Brands Innovations stock opened at $54.35 on Friday. The firm has a market cap of $6.53 billion, a PE ratio of 22.00, a P/E/G ratio of 3.33 and a beta of 1.41. The business’s 50 day simple moving average is $55.52 and its 200 day simple moving average is $54.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.89 and a current ratio of 1.84. Fortune Brands Innovations, Inc. has a 52-week low of $44.04 and a 52-week high of $67.43.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.14). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a return on equity of 18.54% and a net margin of 6.70%.Fortune Brands Innovations’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. On average, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Friday, February 20th will be given a dividend of $0.26 per share. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 20th. This represents a $1.04 annualized dividend and a yield of 1.9%. Fortune Brands Innovations’s payout ratio is presently 40.49%.

Wall Street Analyst Weigh In

FBIN has been the topic of several research analyst reports. Zacks Research downgraded Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday. BMO Capital Markets dropped their price target on Fortune Brands Innovations from $62.00 to $56.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 17th. Evercore reiterated an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. Barclays cut Fortune Brands Innovations from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $68.00 to $55.00 in a research note on Friday, February 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Fortune Brands Innovations in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.00.

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.