Tokio Marine Asset Management Co. Ltd. Purchases 404 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tokio Marine Asset Management Co. Ltd. increased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,531 shares of the company’s stock after purchasing an additional 404 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Fortune Brands Innovations were worth $345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tobam lifted its holdings in shares of Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after acquiring an additional 319 shares during the period. Sound Income Strategies LLC bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $27,000. Operose Advisors LLC bought a new position in shares of Fortune Brands Innovations during the third quarter valued at $31,000. BluePath Capital Management LLC bought a new position in shares of Fortune Brands Innovations during the third quarter valued at $32,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Fortune Brands Innovations by 7,122.2% during the third 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 period. 87.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FBIN shares. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Barclays lifted their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Robert W. Baird cut their price objective 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 for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.25.

Insider Buying and Selling

In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction dated Monday, March 11th. The stock was 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 directly owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $74.18 on Monday. The stock has a 50-day simple moving average of $79.71 and a 200 day simple moving average of $74.05. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. 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 $9.32 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.11 and a beta of 1.57.

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

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.