Twinbeech Capital LP Purchases Shares of 184,010 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Twinbeech Capital LP acquired a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 184,010 shares of the company's stock, valued at approximately $12,573,000. Twinbeech Capital LP owned 0.15% of Fortune Brands Innovations at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FBIN. Vanguard Group Inc. boosted its holdings in Fortune Brands Innovations by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock worth $821,840,000 after buying an additional 68,404 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Fortune Brands Innovations by 2.6% in the 4th quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock worth $303,792,000 after purchasing an additional 114,391 shares during the period. 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 worth $196,153,000 after purchasing an additional 1,110,021 shares during the period. Amundi lifted its stake 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 worth $157,953,000 after acquiring an additional 1,442,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake 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 worth $131,481,000 after acquiring an additional 40,138 shares during the last quarter. Institutional investors own 87.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FBIN shares. UBS Group decreased their price target on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Barclays decreased their price target on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Royal Bank of Canada decreased their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen lowered Fortune Brands Innovations from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research note on Wednesday, May 7th. One equities research 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $77.17.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Kristin Papesh purchased 483 shares of the business's stock in a transaction that occurred 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 acquisition, the executive vice president now owns 7,617 shares in the company, valued at $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 through this link. Insiders own 1.00% of the company's stock.

Fortune Brands Innovations Stock Down 0.9%

Shares of FBIN traded down $0.48 during trading hours 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 has a market capitalization of $6.04 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The company's fifty day moving average price is $54.73 and its two-hundred day moving average price is $65.38.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced 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 firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The firm's revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal 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 issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. Fortune Brands Innovations's payout ratio is currently 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.