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

Teza Capital Management LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,243 shares of the company's stock, valued at approximately $563,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $101,122,000. Amundi boosted its holdings in shares of Fortune Brands Innovations by 166.8% in 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% in 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 acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $59,970,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Fortune Brands Innovations by 1,530.3% in 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. Institutional investors and hedge funds own 87.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FBIN shares. Barclays cut 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 note on Thursday, May 8th. Robert W. Baird cut 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 note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 target price on the stock. UBS Group cut 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 note on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of Fortune Brands Innovations from a "hold" rating to a "sell" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $77.17.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Fortune Brands Innovations Stock Down 0.9%

Shares of FBIN traded down $0.48 during midday trading on Friday, hitting $50.25. The company had a trading volume of 1,565,751 shares, compared to its average volume of 1,500,955. The company's 50 day moving average price is $54.73 and its 200 day moving average price is $65.38. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 13.40, 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 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 released its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The company 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%. The company's revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 EPS. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's payout ratio is 29.33%.

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.