Teza Capital Management LLC Invests $563,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Teza Capital Management LLC purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 8,243 shares of the company's stock, valued at approximately $563,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at about $101,122,000. Amundi boosted its holdings 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 purchasing an additional 1,442,195 shares during the last quarter. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 1,110,021 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at about $59,970,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Fortune Brands Innovations by 1,530.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company's stock valued at $52,962,000 after purchasing an additional 727,550 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Insiders Place Their Bets

In related news, EVP Kristin Papesh bought 483 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now directly owns 7,617 shares of the company's stock, valued at approximately $472,177.83. The trade was a 6.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

FBIN has been the subject of several research reports. Truist Financial set a $65.00 price objective on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. Royal Bank of Canada decreased their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 7th. Robert W. Baird decreased their target price 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. UBS Group decreased their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut shares of Fortune Brands Innovations from a "hold" rating to a "sell" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of "Hold" and a consensus price target of $77.17.

Fortune Brands Innovations Trading Down 0.6%

NYSE:FBIN traded down $0.29 during mid-day trading on Thursday, hitting $50.70. 2,689,124 shares of the stock traded hands, compared to its average volume of 1,494,866. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 13.52, 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. The firm's 50 day moving average is $54.99 and its two-hundred day moving average is $65.75. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

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, meeting the consensus estimate of $0.66. The company had revenue of $1.03 billion for 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%. The firm's revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 EPS. On average, 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 business also recently announced 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. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.97%. Fortune Brands Innovations's dividend payout ratio is currently 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.