Adage Capital Partners Gp, L.L.C. Adds $74M in Fortune Brands Innovations, Inc. ($FBIN)
Adage Capital Partners significantly increased its holdings in Fortune Brands Innovations.
Key Points
- Adage Capital Partners boosted its stake in Fortune Brands Innovations by 127.99%, adding 1,351,536 shares to hold 2,407,536 shares worth $132.17 million.
- Shares of Fortune Brands Innovations traded near $54.90 with a market cap of $6.55 billion and a P/E ratio of 24.4.
- Insider Edward Garden made multiple purchases in May and June, while analysts set varied price targets, including $70 by Truist Securities.
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Adage Capital Partners Gp, L.L.C. has significantly increased its investment in Fortune Brands Innovations, Inc. (NYSE:FBIN), according to the latest 13F filing with the SEC. The fund added 1,351,536 shares, boosting its holdings by 127.99% to a total of 2,407,536 shares. This position is valued at approximately $132.17 million as of the end of the reporting period.
Adage Capital Partners Gp, L.L.C. vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
What Changed in Adage Capital's Fortune Brands Position
Adage Capital Partners increased its stake in Fortune Brands Innovations from 1,056,000 shares to 2,407,536 shares, representing a 127.99% increase. This significant addition of 1,351,536 shares brings the total value of the holdings to about $132.17 million, reflecting a strong vote of confidence in the company.
Other Institutional Activity in Fortune Brands Innovations
Other institutional investors also made notable moves in Fortune Brands Innovations. BlackRock, Inc. increased its holdings by 1,333,766 shares, ending with 19,331,082 shares valued at approximately $753.33 million, reflecting a 7.4% increase. Pictet Asset Management Holding SA added 3,317,232 shares, a 74.0% increase, bringing its total to 7,798,078 shares worth $303.76 million. Harris Associates L P reduced its position by 262,005 shares, a 3.4% decrease, leaving it with 7,379,014 shares valued at $287.56 million. Meanwhile, Vanguard Portfolio Management LLC and Vanguard Capital Management LLC both opened new positions, acquiring 5,657,724 and 5,389,122 shares, respectively.
Fortune Brands Innovations, Inc. Stock Up 20.7%
Shares of Fortune Brands Innovations traded near $54.90 on Wednesday. The company has a market cap of approximately $6.55 billion, with a P/E ratio of 24.4 and a forward P/E of 15.01. Its beta is 1.451, indicating a higher volatility compared to the market. Over the past year, the stock has ranged from a low of $32.34 to a high of $64.84. The 50-day moving average is $39.95, while the 200-day moving average stands at $47.97. The company maintains a current ratio of 2.132 and a quick ratio of 0.851, with a debt-to-equity ratio of 125.712.
$FBIN stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Fortune Brands Innovations reported revenue of approximately $4.44 billion, with a slight decline of 2.1% from the previous year. The company achieved a net margin of 6.115% and a return on equity of 11.653%. Earnings per share were $2.25. The next earnings report is expected on July 30, 2026.
Dividend
Fortune Brands Innovations offers an annual dividend rate of $1.04, yielding 1.89%. The dividend payout ratio is 44.89%, indicating a balanced approach to returning capital to shareholders.
Insider Buying and Selling at Fortune Brands Innovations, Inc.
Edward Garden was active in buying shares of Fortune Brands Innovations in May and June 2026. On June 10, he purchased 320,067 shares at an average price of $40.60. Earlier, on May 20, he bought 57,400 shares at $34.89 and 5,900 shares at $33.28. On May 19, Garden acquired 403,000 shares at $33.40, while also selling 373,741 shares on the same day.
Analysts Set New Price Targets
On June 30, 2026, Evercore ISI Group maintained a hold rating with a $48 price target. On the same day, Truist Securities upgraded the stock to a buy with a $70 target. JP Morgan maintained its hold rating with a $39 target on May 15, 2026. Overall, the consensus among 13 analysts is a hold, with a mean price target of $48.
About Fortune Brands Innovations
Fortune Brands Innovations, Inc. is a leading provider of home, security, and digital products for residential applications. Headquartered in Deerfield, Illinois, the company operates through three segments: Water, Outdoors, and Security. It offers products such as faucets, doors, locks, and security devices under well-known brands like Moen, Therma-Tru, and Master Lock. With around 10,000 employees, the company serves both the U.S. and international markets.
Bottom Line
Adage Capital Partners' substantial increase in its stake in Fortune Brands Innovations highlights confidence in the company's prospects. While the stock has shown volatility, it remains a significant player in the building products and security sector. Investors will be watching closely for the next earnings report at the end of July. This 13F filing reflects positions as of the reporting period and may not represent current holdings.
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