Centiva Capital LP Buys Shares of 25,551 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Centiva Capital LP bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 25,551 shares of the company's stock, valued at approximately $1,746,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC increased its position in Fortune Brands Innovations by 10.9% in the third quarter. Tidal Investments LLC now owns 3,639 shares of the company's stock worth $326,000 after buying an additional 359 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter worth about $280,000. Capital Investment Advisors LLC lifted its position in Fortune Brands Innovations by 6.6% in the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company's stock valued at $208,000 after purchasing an additional 190 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Fortune Brands Innovations by 3.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 11,754 shares of the company's stock valued at $803,000 after purchasing an additional 385 shares during the period. Finally, Professional Advisory Services Inc. grew its position in Fortune Brands Innovations by 8.0% in the 4th quarter. Professional Advisory Services Inc. now owns 281,954 shares of the company's stock worth $19,266,000 after purchasing an additional 20,948 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded up $0.17 during trading hours on Friday, reaching $51.26. 2,319,590 shares of the company's stock were exchanged, compared to its average volume of 1,443,214. The company has a market capitalization of $6.16 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The business's 50-day simple moving average is $56.44 and its two-hundred day simple moving average is $67.53. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.66. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the firm posted $0.83 EPS. The company's quarterly revenue was down 6.9% on a year-over-year basis. Sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research report on Wednesday. The Goldman Sachs Group reduced their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. UBS Group lowered their price target on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Wednesday. Robert W. Baird reduced their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Barclays lowered their target price on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $77.17.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh acquired 483 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% 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.