GAMMA Investing LLC increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 6,418.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,706 shares of the company's stock after purchasing an additional 108,023 shares during the quarter. GAMMA Investing LLC owned about 0.09% of Fortune Brands Innovations worth $6,679,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in Fortune Brands Innovations in the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $55,000. IFP Advisors Inc lifted its stake in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after acquiring an additional 275 shares during the period. Siemens Fonds Invest GmbH bought a new position in Fortune Brands Innovations in the fourth quarter valued at about $76,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Fortune Brands Innovations in the fourth quarter worth about $82,000. Institutional investors and hedge funds own 87.60% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. Royal Bank of Canada cut their price objective on shares of 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. UBS Group lowered their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Robert W. Baird cut their price target on 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $77.17.
Check Out Our Latest Report on FBIN
Fortune Brands Innovations Stock Performance
Shares of Fortune Brands Innovations stock traded down $0.66 on Friday, hitting $51.13. The stock had a trading volume of 68,552 shares, compared to its average volume of 1,584,176. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.38. 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, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The business's 50 day moving average is $52.14 and its two-hundred day moving average is $63.01.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted 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 return on equity of 22.05% and a net margin of 10.24%. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the business earned $0.83 EPS. The company's quarterly revenue was down 6.9% compared to the same quarter last year. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.
Fortune Brands Innovations Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th were given a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. Fortune Brands Innovations's payout ratio is 29.33%.
Fortune Brands Innovations Company Profile
(
Free Report)
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.
Read More
Before you consider Fortune Brands Innovations, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fortune Brands Innovations wasn't on the list.
While Fortune Brands Innovations currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
