Fortune Brands rises on reported activist investor stake

Fortune Brands Innovations

23/02/2026 11:53

** Shares of building-products supplier Fortune Brands Innovations FBIN.N advancing 4% to $56.51 premarket after a WSJ report said investor Ed Garden built a stake and seeks to replace its incoming CEO

** Garden, who runs Garden Investments, has privately nominated director candidates and views the co's leadership as lacking industry experience, the report said

** FBIN's shares tumbled nearly 18% on Feb 13 after co's qtrly results missed estimates and it announced appointment of Amit Banati as CEO effective May 13

** Through Fri close, stock up about 9% YTD following 27% slide in 2025 and 10% fall in 2024

** Stock recently traded at 15 times expected earnings, vs its 5-yr avg forward PE of 14, per LSEG Datastream data, suggesting it may be close to fairly valued

** Avg rating of 20 analysts covering the stock is "hold"; median PT of $57 down from $62 a month ago - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))