Polar Asset Management Partners Inc. Purchases New Position in Fortune Brands Innovations, Inc. $FBIN

Polar Asset Management Partners Inc. purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 40,000 shares of the company’s stock, valued at approximately $2,196,000.

Several other hedge funds have also recently bought and sold shares of FBIN. BlackRock Inc. bought a new stake in shares of Fortune Brands Innovations during the second quarter worth approximately $1,062,255,000. Pictet Asset Management Holding SA increased its stake in shares of Fortune Brands Innovations by 74.0% during the first quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company’s stock worth $303,757,000 after purchasing an additional 3,317,232 shares during the period. Orbis Allan Gray Ltd lifted its holdings in Fortune Brands Innovations by 586.7% during the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock worth $363,760,000 after purchasing an additional 6,213,274 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fortune Brands Innovations by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company’s stock worth $158,362,000 after purchasing an additional 271,371 shares during the last quarter. Finally, Garden Investment Management L.P. bought a new stake in Fortune Brands Innovations in the 1st quarter valued at $137,471,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Up 1.7%

Shares of NYSE:FBIN opened at $45.74 on Wednesday. The business’s 50 day simple moving average is $48.83 and its 200 day simple moving average is $45.27. Fortune Brands Innovations, Inc. has a 1 year low of $32.34 and a 1 year high of $64.84. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.01 and a quick ratio of 1.05. The company has a market capitalization of $5.46 billion, a P/E ratio of 37.19, a P/E/G ratio of 3.80 and a beta of 1.31.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.55. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 3.32 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be given a $0.26 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 84.55%.

Analyst Upgrades and Downgrades

FBIN has been the topic of several recent research reports. Wells Fargo & Company began coverage on Fortune Brands Innovations in a research report on Monday. They set an “overweight” rating and a $52.00 price objective on the stock. Robert W. Baird set a $44.00 target price on shares of Fortune Brands Innovations in a research report on Friday, May 8th. Barclays decreased their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 5th. Evercore set a $56.00 price target on shares of Fortune Brands Innovations in a research report on Wednesday, August 5th. Finally, DA Davidson began coverage on shares of Fortune Brands Innovations in a research note on Monday. They issued a “buy” rating and a $64.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.71.

Insider Transactions at Fortune Brands Innovations

In related news, Director Edward P. Garden purchased 320,067 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average price of $40.60 per share, with a total value of $12,994,720.20. Following the completion of the purchase, the director directly owned 3,940,234 shares in the company, valued at $159,973,500.40. This trade represents a 8.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jesse G. Singh acquired 19,725 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of $51.66 per share, with a total value of $1,018,993.50. Following the transaction, the chief executive officer directly owned 19,725 shares of the company’s stock, valued at $1,018,993.50. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 359,352 shares of company stock valued at $15,009,905. 3.32% of the stock is owned by insiders.

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.