Nomura Holdings Inc. Makes New $1.13 Million Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Nomura Holdings Inc. bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 16,483 shares of the company's stock, valued at approximately $1,126,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FBIN. U.S. Capital Wealth Advisors LLC boosted its position in shares of Fortune Brands Innovations by 1.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock worth $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock worth $222,000 after purchasing an additional 156 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock worth $115,000 after purchasing an additional 170 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Fortune Brands Innovations by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company's stock worth $260,000 after purchasing an additional 201 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Fortune Brands Innovations by 0.6% in the 4th quarter. Arizona State Retirement System now owns 36,048 shares of the company's stock worth $2,463,000 after purchasing an additional 213 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 0.9%

Shares of FBIN traded down $0.48 during midday trading on Friday, hitting $50.25. The stock had a trading volume of 1,565,751 shares, compared to its average volume of 1,500,955. The company has a 50 day simple moving average of $54.73 and a two-hundred day simple moving average of $65.38. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $0.83 EPS. The company's revenue for the quarter was down 6.9% on a year-over-year basis. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS 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. Shareholders of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio is 29.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FBIN. Wall Street Zen lowered Fortune Brands Innovations from a "hold" rating to a "sell" rating in a research report on Thursday. Barclays reduced their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price on the stock. UBS Group reduced their target price on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Truist Financial set a $65.00 target price on Fortune Brands Innovations in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $77.17.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Kristin Papesh bought 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. The trade was a 6.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

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.