Daiwa Securities Group Inc. Raises Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Daiwa Securities Group Inc. increased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,900 shares of the company’s stock after buying an additional 300 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fortune Brands Innovations were worth $602,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Fortune Brands Innovations by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock valued at $771,388,000 after buying an additional 50,047 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Fortune Brands Innovations by 6.4% in the third quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock valued at $127,162,000 after acquiring an additional 123,041 shares during the period. Northern Trust Corp boosted its position in Fortune Brands Innovations by 15.7% in the 3rd quarter. Northern Trust Corp now owns 1,654,531 shares of the company’s stock worth $102,846,000 after purchasing an additional 224,829 shares in the last quarter. FMR LLC grew its stake in shares of Fortune Brands Innovations by 2.8% during the 3rd quarter. FMR LLC now owns 1,525,640 shares of the company’s stock worth $94,834,000 after purchasing an additional 40,839 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Fortune Brands Innovations by 4.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,485,605 shares of the company’s stock valued at $92,345,000 after purchasing an additional 62,243 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $73.22 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. The business has a 50 day simple moving average of $79.81 and a two-hundred day simple moving average of $73.79. The stock has a market capitalization of $9.20 billion, a P/E ratio of 23.10, a PEG ratio of 2.12 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays increased their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets restated a “market perform” rating and issued a $82.00 price target (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Robert W. Baird reduced their price target on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Finally, Oppenheimer assumed coverage on Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and an average price target of $78.44.

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the sale, the director now owns 2,435 shares in the company, valued at approximately $197,478.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.