FORA Capital LLC Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

FORA Capital LLC purchased a new position in shares of 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 purchased 9,002 shares of the company's stock, valued at approximately $615,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FBIN. Flagship Wealth Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations during the fourth quarter worth approximately $55,000. IFP Advisors Inc lifted its stake in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after buying an additional 275 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $82,000. Finally, Blue Trust Inc. grew its position in shares of Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after acquiring an additional 219 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Trading Up 0.3 %

Shares of Fortune Brands Innovations stock opened at $51.26 on Friday. The company has a 50-day moving average of $56.44 and a two-hundred day moving average of $67.66. The stock has a market cap of $6.21 billion, a PE ratio of 13.67, 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 12-month low of $47.21 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Fortune Brands Innovations's revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Robert W. Baird dropped their price objective 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. Barclays reduced their price objective on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research note on Wednesday. Royal Bank of Canada cut 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $77.17.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kristin Papesh purchased 483 shares of the business's 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 completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

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.

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