Louisiana State Employees Retirement System Makes New $2.70 Million Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Louisiana State Employees Retirement System purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,400 shares of the company's stock, valued at approximately $2,695,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FBIN. Arvest Investments Inc. purchased a new position in Fortune Brands Innovations in the 4th quarter valued at $1,561,000. Walleye Trading LLC lifted its holdings in Fortune Brands Innovations by 72.4% during the 3rd quarter. Walleye Trading LLC now owns 30,323 shares of the company's stock worth $1,885,000 after buying an additional 12,738 shares in the last quarter. Jump Financial LLC purchased a new stake in Fortune Brands Innovations during the 3rd quarter worth about $596,000. Achmea Investment Management B.V. boosted its stake in shares of Fortune Brands Innovations by 148.0% in the 3rd quarter. Achmea Investment Management B.V. now owns 130,914 shares of the company's stock valued at $8,138,000 after buying an additional 78,135 shares during the period. Finally, Aviva PLC grew its position in shares of Fortune Brands Innovations by 10.4% during the third quarter. Aviva PLC now owns 193,233 shares of the company's stock worth $12,011,000 after buying an additional 18,274 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They issued a "market perform" rating on the stock. Finally, Barclays lifted their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations currently has an average rating of "Moderate Buy" and an average target price of $77.63.

Fortune Brands Innovations Stock Down 1.2 %

NYSE:FBIN traded down $0.90 during mid-day trading on Tuesday, reaching $75.40. The stock had a trading volume of 1,073,167 shares, compared to its average volume of 1,055,729. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. The stock has a market cap of $9.48 billion, a P/E ratio of 23.70, a PEG ratio of 2.21 and a beta of 1.57. The business's 50 day moving average is $80.70 and its 200 day moving average is $73.22. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $84.92.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 EPS. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current year.

Insider Activity

In other news, Director Ronald V. Waters sold 2,000 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the transaction, the director now directly owns 2,435 shares of the company's stock, valued at approximately $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.99% of the stock is owned by company insiders.

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.