FORA Capital LLC Buys Shares of 9,002 Fortune Brands Innovations, Inc. (NYSE:FBIN)

FORA Capital LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,002 shares of the company's stock, valued at approximately $615,000.

Several other large investors have also recently bought and sold shares of FBIN. Vanguard Group Inc. grew its holdings in Fortune Brands Innovations by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock worth $821,840,000 after purchasing an additional 68,404 shares during the period. JPMorgan Chase & Co. lifted 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 lifted its holdings in Fortune Brands Innovations by 63.0% during the fourth 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. Amundi increased its holdings in shares of Fortune Brands Innovations by 166.8% in the fourth quarter. Amundi now owns 2,306,864 shares of the company's stock worth $157,953,000 after purchasing an additional 1,442,195 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Fortune Brands Innovations by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock valued at $131,481,000 after purchasing an additional 40,138 shares in the last quarter. Institutional investors own 87.60% of the company's stock.

Insider Activity

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FBIN shares. Robert W. Baird reduced 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 dropped 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. Truist Financial set a $65.00 price objective on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price on the stock. Finally, Royal Bank of Canada decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $77.17.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock traded down $0.35 during mid-day trading on Thursday, hitting $54.35. The company's stock had a trading volume of 1,020,702 shares, compared to its average volume of 1,469,425. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The stock's fifty day moving average price is $56.03 and its two-hundred day moving average price is $67.03. 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 market capitalization of $6.54 billion, a P/E ratio of 14.48, a P/E/G ratio of 2.00 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.83 EPS. The business's quarterly revenue was down 6.9% on a year-over-year basis. Research analysts forecast 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. Investors of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, May 27th. 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.