Nomura Holdings Inc. Takes $1.13 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Nomura Holdings Inc. acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,483 shares of the company's stock, valued at approximately $1,126,000.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Fortune Brands Innovations by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company's stock worth $59,094,000 after purchasing an additional 11,722 shares during the period. Trust Point Inc. purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth $319,000. Raymond James Financial Inc. purchased a new stake in Fortune Brands Innovations during the 4th quarter valued at $40,027,000. SG Americas Securities LLC increased its position in shares of Fortune Brands Innovations by 812.5% in the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock valued at $2,292,000 after acquiring an additional 29,867 shares during the period. Finally, M&T Bank Corp increased its position in shares of Fortune Brands Innovations by 41.9% in the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company's stock valued at $1,612,000 after acquiring an additional 6,971 shares during the period. Hedge funds and other institutional investors own 87.60% of the company's stock.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of the stock in a transaction dated Tuesday, March 4th. The shares were purchased 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 $472,177.83. This trade represents a 6.77% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Fortune Brands Innovations Stock Down 0.6%

Shares of Fortune Brands Innovations stock traded down $0.29 during trading on Thursday, hitting $50.70. The company's stock had a trading volume of 2,689,124 shares, compared to its average volume of 1,493,601. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a fifty day simple moving average of $55.25 and a two-hundred day simple moving average of $65.98. The company has a market capitalization of $6.10 billion, a PE ratio of 13.52, a P/E/G ratio of 2.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates 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 period in the previous year, the firm posted $0.83 EPS. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. Equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's payout ratio is 29.33%.

Analyst Ratings Changes

Several analysts recently issued reports on FBIN shares. Wall Street Zen cut Fortune Brands Innovations from a "hold" rating to a "sell" rating in a research note on Thursday. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price target for the company. Robert W. Baird reduced 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 research report on Wednesday, May 7th. Finally, Barclays dropped their target price on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $77.17.

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.