Rafferty Asset Management LLC Has $2.95 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Rafferty Asset Management LLC increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 26.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,795 shares of the company’s stock after buying an additional 8,223 shares during the period. Rafferty Asset Management LLC’s holdings in Fortune Brands Innovations were worth $2,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Fortune Brands Innovations in the fourth quarter valued at $91,504,000. American Century Companies Inc. increased its holdings in shares of Fortune Brands Innovations by 1,439.7% in the third 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 increased its holdings in shares of Fortune Brands Innovations by 62.8% in the fourth 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 increased its holdings in shares of Fortune Brands Innovations by 110.8% in the third 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. Finally, Invesco Ltd. increased its holdings in shares of Fortune Brands Innovations by 64.5% in the third 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. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on FBIN. Robert W. Baird upped their price target on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 1st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.22.

View Our Latest Report on Fortune Brands Innovations

Fortune Brands Innovations Trading Down 1.0 %

FBIN opened at $65.99 on Friday. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92. The company has a 50-day simple moving average of $73.71 and a 200 day simple moving average of $76.21. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.84 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. Fortune Brands Innovations’s revenue was up 6.7% compared to the same quarter last year. Analysts predict that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 24th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.96 annualized dividend and a yield of 1.45%. Fortune Brands Innovations’s dividend payout ratio is 29.36%.

Insider Transactions at Fortune Brands Innovations

In other 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 transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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