GAMMA Investing LLC Increases Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

GAMMA Investing LLC lifted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 6,418.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,706 shares of the company's stock after acquiring an additional 108,023 shares during the period. GAMMA Investing LLC owned 0.09% of Fortune Brands Innovations worth $6,679,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Flagship Wealth Advisors LLC bought a new position in Fortune Brands Innovations in the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $55,000. IFP Advisors Inc grew its holdings in shares of Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after purchasing an additional 275 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in Fortune Brands Innovations in the 4th quarter worth about $76,000. Finally, New Age Alpha Advisors LLC purchased a new position in Fortune Brands Innovations in the 4th quarter worth about $82,000. Institutional investors own 87.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FBIN. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective on the stock. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. UBS Group decreased 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. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Barclays dropped their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $77.17.

Fortune Brands Innovations Stock Down 2.9%

FBIN traded down $1.50 during trading on Friday, hitting $50.29. The stock had a trading volume of 1,316,813 shares, compared to its average volume of 1,590,032. The company has a market capitalization of $6.05 billion, a PE ratio of 13.41, a PEG ratio of 2.00 and a beta of 1.38. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock has a 50 day simple moving average of $52.14 and a two-hundred day simple moving average of $63.01.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. Fortune Brands Innovations's revenue was down 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 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.