K.J. Harrison & Partners Inc Invests $777,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

K.J. Harrison & Partners Inc acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,200 shares of the company's stock, valued at approximately $777,000.

Several other hedge funds also recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in shares of Fortune Brands Innovations by 1,439.7% in the 3rd quarter. American Century Companies Inc. now owns 665,475 shares of the company's stock worth $41,366,000 after buying an additional 622,253 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Fortune Brands Innovations by 62.8% in the 4th quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company's stock worth $105,888,000 after buying an additional 534,901 shares during the period. Royal Bank of Canada lifted its holdings in shares of Fortune Brands Innovations by 110.8% in the 3rd quarter. Royal Bank of Canada now owns 779,237 shares of the company's stock worth $48,438,000 after buying an additional 409,598 shares during the period. Invesco Ltd. lifted its holdings in shares of Fortune Brands Innovations by 64.5% in the 3rd quarter. Invesco Ltd. now owns 892,752 shares of the company's stock worth $55,493,000 after buying an additional 350,082 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Fortune Brands Innovations by 28.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,195,313 shares of the company's stock worth $91,011,000 after purchasing an additional 262,922 shares during the last quarter. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Up 1.3 %

Fortune Brands Innovations stock traded up $0.96 during midday trading on Friday, reaching $74.18. The company's stock had a trading volume of 1,023,086 shares, compared to its average volume of 970,123. The stock's 50-day simple moving average is $79.71 and its 200-day simple moving average is $73.97. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.92. The stock has a market capitalization of $9.32 billion, a P/E ratio of 23.40, a PEG ratio of 2.08 and a beta of 1.57.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BMO Capital Markets restated a "market perform" rating and set a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Oppenheimer assumed coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They set a "market perform" rating for the company. Robert W. Baird decreased their price objective on Fortune Brands Innovations from $86.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, April 18th. Finally, Barclays upped their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $78.44.

Insider Activity

In other news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now directly owns 2,435 shares of the company's stock, valued at $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company's stock.

About Fortune Brands Innovations

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.