Man Group plc Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Man Group plc bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 5,041 shares of the company's stock, valued at approximately $344,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FBIN. Nomura Holdings Inc. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth approximately $1,126,000. NorthRock Partners LLC bought a new position in shares of Fortune Brands Innovations in the fourth quarter valued at $223,000. Occudo Quantitative Strategies LP bought a new position in shares of Fortune Brands Innovations in the fourth quarter valued at $336,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at about $1,355,000. Finally, Gotham Asset Management LLC raised its holdings in shares of Fortune Brands Innovations by 5.5% in the 4th quarter. Gotham Asset Management LLC now owns 68,507 shares of the company's stock worth $4,681,000 after acquiring an additional 3,588 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Kristin Papesh bought 483 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company's stock.

Fortune Brands Innovations Trading Down 1.3%

Fortune Brands Innovations stock traded down $0.67 during mid-day trading on Friday, hitting $50.42. The company's stock had a trading volume of 11,924,564 shares, compared to its average volume of 1,573,159. The business has a 50 day moving average price of $53.48 and a 200-day moving average price of $64.44. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49.

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

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.98%. Fortune Brands Innovations's payout ratio is currently 29.33%.

Analysts Set New Price Targets

A number of analysts recently commented on FBIN shares. Royal Bank of Canada dropped their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target on the stock. 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 research report on Wednesday, May 7th. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research report on Wednesday, May 7th. Finally, Barclays cut their price objective 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. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of "Hold" and a consensus price target of $77.17.

Fortune Brands Innovations 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.