Korea Investment CORP Acquires 15,300 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Korea Investment CORP grew its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 37.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,526 shares of the company’s stock after acquiring an additional 15,300 shares during the period. Korea Investment CORP’s holdings in Fortune Brands Innovations were worth $3,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. U.S. Capital Wealth Advisors LLC grew its stake in shares of Fortune Brands Innovations by 1.7% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after acquiring an additional 138 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after purchasing an additional 170 shares during the period. Capital Investment Advisors LLC increased its stake in shares of Fortune Brands Innovations by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after purchasing an additional 190 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Fortune Brands Innovations by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock valued at $260,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

FBIN stock opened at $60.91 on Wednesday. The company has a fifty day simple moving average of $66.16 and a two-hundred day simple moving average of $74.67. Fortune Brands Innovations, Inc. has a 52 week low of $59.58 and a 52 week high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $7.47 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FBIN has been the subject of several recent analyst reports. Barclays dropped their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research report on Tuesday. They set a “hold” rating and a $70.00 target price for the company. The Goldman Sachs Group lowered their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada cut their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, UBS Group reduced their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.25.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

About Fortune Brands Innovations

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.