International Assets Investment Management LLC Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

International Assets Investment Management LLC purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,853 shares of the company’s stock, valued at approximately $522,000.

A number of other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in shares of Fortune Brands Innovations by 1,439.7% in the 3rd quarter. American Century Companies Inc. now owns 665,475 shares of the company’s stock valued at $41,366,000 after purchasing an additional 622,253 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Fortune Brands Innovations by 62.8% in the 4th quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company’s stock valued at $105,888,000 after purchasing an additional 534,901 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Fortune Brands Innovations by 110.8% in the 3rd quarter. Royal Bank of Canada now owns 779,237 shares of the company’s stock valued at $48,438,000 after purchasing an additional 409,598 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Fortune Brands Innovations by 64.5% in the 3rd quarter. Invesco Ltd. now owns 892,752 shares of the company’s stock valued at $55,493,000 after purchasing an additional 350,082 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Fortune Brands Innovations by 28.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,195,313 shares of the company’s stock valued at $91,011,000 after purchasing an additional 262,922 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FBIN has been the subject of several research reports. BMO Capital Markets reissued a “market perform” rating and issued a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Oppenheimer initiated coverage on Fortune Brands Innovations in a research report on Friday, January 19th. They issued a “market perform” rating on the stock. Robert W. Baird dropped their price target on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Finally, Barclays boosted their price target on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $78.44.

Fortune Brands Innovations Stock Performance

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

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts expect that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current year.

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by 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.