SG Americas Securities LLC Has $7.95 Million Holdings in Fortune Brands Innovations, Inc. $FBIN

SG Americas Securities LLC increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 112.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,990 shares of the company’s stock after acquiring an additional 108,016 shares during the period. SG Americas Securities LLC’s holdings in Fortune Brands Innovations were worth $7,949,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FBIN. Royal Bank of Canada increased its holdings in Fortune Brands Innovations by 0.8% during the 1st quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock worth $2,539,000 after purchasing an additional 324 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Fortune Brands Innovations by 20.5% in the first quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock valued at $629,000 after purchasing an additional 1,761 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after buying an additional 388 shares during the period. Cetera Investment Advisers boosted its position in shares of Fortune Brands Innovations by 7.6% during the second quarter. Cetera Investment Advisers now owns 10,382 shares of the company’s stock worth $534,000 after buying an additional 731 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden bought 403,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the acquisition, the director owned 3,556,867 shares of the company’s stock, valued at $118,799,357.80. The trade was a 12.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders purchased 786,367 shares of company stock worth $28,653,958. Insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Stock Down 0.7%

Fortune Brands Innovations stock opened at $46.03 on Friday. The firm has a market capitalization of $5.49 billion, a PE ratio of 20.46, a P/E/G ratio of 2.96 and a beta of 1.37. The company’s 50-day moving average is $39.73 and its 200-day moving average is $46.65. Fortune Brands Innovations, Inc. has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. Fortune Brands Innovations’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s payout ratio is currently 46.22%.

Analysts Set New Price Targets

Several research firms have commented on FBIN. Weiss Ratings cut Fortune Brands Innovations from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Truist Financial decreased their price target on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Robert W. Baird set a $44.00 target price on shares of Fortune Brands Innovations in a report on Friday, May 8th. Royal Bank Of Canada cut their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, UBS Group lowered their target price on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.31.

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.