Legal & General Group Plc Invests $8.15 Million in Fortune Brands Innovations, Inc. $FBIN

Legal & General Group Plc bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 148,535 shares of the company’s stock, valued at approximately $8,154,000.

Other hedge funds also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in Fortune Brands Innovations during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC lifted 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 period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Fortune Brands Innovations by 1,275.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after buying an additional 510 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Fortune Brands Innovations in the first quarter worth about $30,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Fortune Brands Innovations by 628.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company’s stock worth $30,000 after buying an additional 522 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Down 3.6%

Fortune Brands Innovations stock opened at $42.73 on Wednesday. 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 stock has a market capitalization of $5.10 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 3.74 and a beta of 1.30. The business has a 50 day simple moving average of $49.17 and a 200-day simple moving average of $44.66. Fortune Brands Innovations, Inc. has a 12 month low of $32.34 and a 12 month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.55. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 3.33 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders 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 annualized dividend and a dividend yield of 2.4%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 84.55%.

Insider Transactions at Fortune Brands Innovations

In related news, Director Edward P. Garden bought 320,067 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $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 SEC, which is available through the SEC website. Also, CEO Jesse G. Singh purchased 19,560 shares of Fortune Brands Innovations stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $50.93 per share, with a total value of $996,190.80. Following the transaction, the chief executive officer owned 39,285 shares in the company, valued at approximately $2,000,785.05. The trade was a 99.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 359,352 shares of company stock valued at $15,009,905 in the last three months. Corporate insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FBIN shares. Zacks Research upgraded Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Evercore set a $56.00 price objective on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Truist Financial upgraded shares of Fortune Brands Innovations from a “hold” rating to a “buy” rating and boosted their target price for the company from $45.00 to $70.00 in a research note on Tuesday, June 30th. Finally, Robert W. Baird set a $44.00 price target on shares of Fortune Brands Innovations in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.71.

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.