Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Fortune Brands Innovations, Inc. $FBIN

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 256,795 shares of the company’s stock, valued at approximately $14,098,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Fortune Brands Innovations as of its most recent SEC filing.

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

Insider Activity

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 320,067 shares of the stock in a transaction on Wednesday, June 10th. The stock was bought at an average cost of $40.60 per share, for a total transaction of $12,994,720.20. Following the completion of the acquisition, the director directly owned 3,940,234 shares of the company’s stock, valued at $159,973,500.40. The trade was a 8.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jesse G. Singh purchased 19,725 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $51.66 per share, for a total transaction of $1,018,993.50. Following the transaction, the chief executive officer 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. Over the last quarter, insiders have acquired 359,352 shares of company stock worth $15,009,905. Corporate insiders own 3.32% of the company’s stock.

Fortune Brands Innovations Stock Down 2.7%

Shares of NYSE:FBIN opened at $45.22 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $32.34 and a 52 week high of $64.84. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01. The company has a market capitalization of $5.40 billion, a PE ratio of 36.76, a PEG ratio of 3.88 and a beta of 1.31. The company has a 50 day moving average price of $48.70 and a two-hundred day moving average price of $45.53.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business posted $1.00 earnings per share. The business’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. Analysts forecast that Fortune Brands Innovations, Inc. will post 3.36 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

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

Wall Street Analysts Forecast Growth

FBIN has been the subject of a number of analyst reports. Evercore set a $56.00 target price on shares of Fortune Brands Innovations in a report on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Royal Bank Of Canada raised their price target on Fortune Brands Innovations from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings raised Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $44.00 price objective on Fortune Brands Innovations in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $55.33.

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.