1,506 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, Holdings Channel reports. The fund acquired 1,506 shares of the company’s stock, valued at approximately $117,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tobam raised its stake in Fortune Brands Innovations by 1,181.5% in the 4th quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after purchasing an additional 319 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Fortune Brands Innovations in the 4th quarter valued at about $27,000. Operose Advisors LLC acquired a new position in Fortune Brands Innovations in the 3rd quarter valued at about $31,000. BluePath Capital Management LLC acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at about $32,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of Fortune Brands Innovations by 7,122.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock valued at $40,000 after acquiring an additional 641 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction 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 directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FBIN. Barclays upped their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Oppenheimer began coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating for the company. Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $82.00 target price (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $79.25.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $74.18 on Monday. The stock has a market cap of $9.32 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.57. 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 stock has a 50 day moving average of $79.71 and a 200-day moving average of $74.05. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business posted $1.07 earnings per share. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current fiscal year.

Fortune Brands Innovations 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.