203,001 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ 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 Securities & Exchange Commission. The firm bought 203,001 shares of the company's stock, valued at approximately $13,871,000. Lansforsakringar Fondforvaltning AB publ owned approximately 0.17% of Fortune Brands Innovations as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations during the 4th quarter valued at about $55,000. IFP Advisors Inc raised its stake in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after buying an additional 275 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new stake in Fortune Brands Innovations in the fourth quarter worth about $76,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $82,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kristin Papesh acquired 483 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.

Fortune Brands Innovations Stock Performance

Shares of FBIN traded down $0.67 during mid-day trading on Friday, reaching $50.42. The company had a trading volume of 11,924,564 shares, compared to its average volume of 1,575,530. The stock has a 50 day moving average of $53.72 and a two-hundred day moving average of $64.69. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.06 billion, a P/E ratio of 13.45, a PEG ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $1.07 billion. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm'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 earned $0.83 earnings per share. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective for the company. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday. Royal Bank of Canada dropped 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. Barclays cut 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. Finally, Robert W. Baird lowered their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.