Occudo Quantitative Strategies LP Takes $336,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Occudo Quantitative Strategies LP bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,915 shares of the company's stock, valued at approximately $336,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $55,000. IFP Advisors Inc raised its holdings in shares of 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 purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $82,000. Finally, Blue Trust Inc. raised its holdings in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after buying an additional 219 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FBIN has been the subject of a number of research reports. Royal Bank of Canada reduced their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. Robert W. Baird cut their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barclays cut their price target on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. Finally, UBS Group cut their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $77.17.

Insider Activity

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.

Fortune Brands Innovations Trading Down 0.1%

Shares of Fortune Brands Innovations stock opened at $54.65 on Friday. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock has a market cap of $6.57 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. The company has a 50-day moving average of $55.84 and a two-hundred day moving average of $66.81.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Fortune Brands Innovations's dividend payout ratio is presently 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.

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