Livforsakringsbolaget Skandia Omsesidigt Purchases 456 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,506 shares of the company’s stock after purchasing an additional 456 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fortune Brands Innovations were worth $800,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Tributary Capital Management LLC grew its position in shares of Fortune Brands Innovations by 1.9% in the fourth quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock valued at $659,000 after purchasing an additional 164 shares in the last quarter. Everhart Financial Group Inc. grew its position in Fortune Brands Innovations by 4.6% during the fourth quarter. Everhart Financial Group Inc. now owns 4,076 shares of the company’s stock worth $310,000 after buying an additional 178 shares in the last quarter. Signaturefd LLC grew its position in Fortune Brands Innovations by 10.7% during the third quarter. Signaturefd LLC now owns 1,937 shares of the company’s stock worth $120,000 after buying an additional 187 shares in the last quarter. Harbor Investment Advisory LLC grew its position in Fortune Brands Innovations by 23.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $78,000 after buying an additional 198 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Fortune Brands Innovations by 2.7% during the third quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the company’s stock worth $472,000 after buying an additional 200 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction that occurred on 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 owns 2,435 shares in the company, valued at approximately $197,478.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Trading Up 0.5 %

Shares of FBIN stock opened at $74.75 on Thursday. The stock has a market capitalization of $9.40 billion, a PE ratio of 23.46, a P/E/G ratio of 2.14 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.92. The business has a 50-day moving average of $80.57 and a 200 day moving average of $73.32. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $1.16 billion during 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%. Fortune Brands Innovations’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FBIN. BMO Capital Markets restated a “market perform” rating and set a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Oppenheimer began coverage on Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating for the company. Finally, Barclays boosted their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.63.

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.