MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys New Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,830 shares of the company's stock, valued at approximately $1,355,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FBIN. Vanguard Group Inc. boosted its position in shares of Fortune Brands Innovations by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock valued at $821,840,000 after acquiring an additional 68,404 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Fortune Brands Innovations by 2.6% during the 4th quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock valued at $303,792,000 after acquiring an additional 114,391 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Fortune Brands Innovations by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock valued at $196,153,000 after acquiring an additional 1,110,021 shares in the last quarter. Amundi boosted its position in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after acquiring an additional 1,442,195 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Fortune Brands Innovations by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock valued at $131,481,000 after acquiring an additional 40,138 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Kristin Papesh bought 483 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares of the company's stock, valued at approximately $472,177.83. This trade represents a 6.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Fortune Brands Innovations Trading Down 0.0%

Shares of FBIN traded down $0.02 on Thursday, reaching $49.98. 1,402,702 shares of the company's stock were exchanged, compared to its average volume of 1,905,789. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.01 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. The business has a 50 day moving average price of $53.98 and a two-hundred day moving average price of $64.88. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting analysts' consensus estimates of $0.66. The business 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 for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio (DPR) is 29.33%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FBIN. Barclays decreased their target price on shares of 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. Robert W. Baird reduced their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began 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 target on the stock. Wall Street Zen lowered shares of Fortune Brands Innovations from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.