Uncommon Cents Investing LLC Makes New $234,000 Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Uncommon Cents Investing LLC purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,075 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors have also modified their holdings of the business. Sendero Wealth Management LLC grew its stake in shares of Fortune Brands Innovations by 27.4% in the fourth quarter. Sendero Wealth Management LLC now owns 10,329 shares of the company’s stock worth $786,000 after acquiring an additional 2,224 shares in the last quarter. Tributary Capital Management LLC grew its stake 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 worth $659,000 after acquiring an additional 164 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Fortune Brands Innovations by 28.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,195,313 shares of the company’s stock worth $91,011,000 after acquiring an additional 262,922 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Fortune Brands Innovations by 1.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,686 shares of the company’s stock worth $1,956,000 after acquiring an additional 395 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of Fortune Brands Innovations in the fourth quarter worth $312,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating for the company. BMO Capital Markets reissued a “market perform” rating and issued a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. The Goldman Sachs Group boosted their price target on shares of Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Barclays boosted their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.63.

Insider Buying and Selling

In related 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 transaction of $162,200.00. Following the completion of the transaction, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN traded up $0.52 on Thursday, reaching $84.67. The company’s stock had a trading volume of 817,997 shares, compared to its average volume of 1,075,287. The stock’s 50-day moving average is $80.04 and its two-hundred day moving average is $71.61. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. The stock has a market capitalization of $10.64 billion, a P/E ratio of 26.71, a PEG ratio of 1.75 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. As a group, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current 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.