1,109 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,109 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds also recently bought and sold shares of FBIN. Norges Bank bought a new position in Fortune Brands Innovations in the 4th quarter worth about $101,122,000. Amundi boosted its stake in Fortune Brands Innovations by 166.8% in the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after purchasing an additional 1,442,195 shares in the last quarter. Wellington Management Group LLP boosted its stake in Fortune Brands Innovations by 63.0% in the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock worth $196,153,000 after purchasing an additional 1,110,021 shares in the last quarter. Clearbridge Investments LLC bought a new position in Fortune Brands Innovations in the 4th quarter worth about $59,970,000. Finally, Balyasny Asset Management L.P. boosted its stake in Fortune Brands Innovations by 1,530.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company’s stock worth $52,962,000 after purchasing an additional 727,550 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FBIN. UBS Group dropped their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada lowered their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 7th. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a “hold” rating and a $70.00 target price on the stock. Finally, Robert W. Baird lowered their target price on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.17.

Insider Buying and Selling

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. The trade was a 6.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $55.59 on Monday. The firm’s 50 day moving average price is $55.72 and its 200-day moving average price is $66.37. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month 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 stock has a market capitalization of $6.69 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $0.83 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations’s dividend payout ratio is 29.33%.

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.