Twinbeech Capital LP Invests $12.57 Million in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Twinbeech Capital LP acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 184,010 shares of the company's stock, valued at approximately $12,573,000. Twinbeech Capital LP owned about 0.15% of Fortune Brands Innovations as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position 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 valued at $821,840,000 after purchasing an additional 68,404 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Fortune Brands Innovations by 2.6% during the 4th quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock worth $303,792,000 after buying an additional 114,391 shares in the last quarter. Wellington Management Group LLP raised its position 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 worth $196,153,000 after buying an additional 1,110,021 shares in the last quarter. Amundi raised its position 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 buying an additional 1,442,195 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 buying an additional 40,138 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Trading Down 0.6%

Shares of Fortune Brands Innovations stock traded down $0.29 during trading on Thursday, hitting $50.70. The stock had a trading volume of 2,689,124 shares, compared to its average volume of 1,494,866. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. 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 quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a 50 day simple moving average of $54.99 and a 200 day simple moving average of $65.75.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $0.83 EPS. The business's quarterly revenue was down 6.9% compared to the same quarter last year. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders 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 dividend yield of 1.97%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Kristin Papesh acquired 483 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired 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 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on FBIN shares. Wall Street Zen downgraded shares of Fortune Brands Innovations from a "hold" rating to a "sell" rating in a research report on Thursday. Robert W. Baird dropped their price target 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. Royal Bank of Canada dropped their price target 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. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. Finally, UBS Group dropped 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 report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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.