Deutsche Bank AG Boosts Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Deutsche Bank AG increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 280,177 shares of the company's stock after buying an additional 6,515 shares during the quarter. Deutsche Bank AG owned about 0.23% of Fortune Brands Innovations worth $19,144,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in shares of Fortune Brands Innovations by 9.1% in the fourth quarter. Cetera Investment Advisers now owns 9,358 shares of the company's stock worth $639,000 after purchasing an additional 777 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter worth approximately $1,746,000. Cary Street Partners Financial LLC purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter worth approximately $349,000. Caxton Associates LP raised its stake in shares of Fortune Brands Innovations by 42.9% in the fourth quarter. Caxton Associates LP now owns 7,958 shares of the company's stock worth $544,000 after purchasing an additional 2,391 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Fortune Brands Innovations by 1,530.3% in the fourth 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 during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FBIN shares. Truist Financial set a $65.00 price objective on Fortune Brands Innovations in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective for the company. Royal Bank of Canada lowered 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 note on Wednesday, May 7th. UBS Group reduced their target price on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Barclays reduced their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $77.17.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Kristin Papesh bought 483 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were purchased 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 in the company, valued at approximately $472,177.83. The trade was a 6.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock traded up $0.93 during trading on Friday, hitting $55.59. The company's stock had a trading volume of 1,478,446 shares, compared to its average volume of 1,483,110. The business has a fifty day moving average of $55.72 and a 200-day moving average of $66.49. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a market cap of $6.69 billion, a PE ratio of 14.82, a P/E/G ratio of 2.00 and a beta of 1.49. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company earned $0.83 earnings per share. Fortune Brands Innovations's revenue was down 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. 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 (DPR) is 29.33%.

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.