Uncommon Cents Investing LLC Invests $234,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Uncommon Cents Investing LLC purchased a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,075 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $1,052,123,000. Vanguard Group Inc. lifted its stake in shares of Fortune Brands Innovations by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock worth $771,388,000 after acquiring an additional 50,047 shares during the period. State Street Corp acquired a new stake in Fortune Brands Innovations during the second quarter valued at approximately $365,010,000. Holocene Advisors LP acquired a new stake in Fortune Brands Innovations during the second quarter valued at approximately $193,486,000. Finally, Federated Hermes Inc. lifted its stake in Fortune Brands Innovations by 6.4% during the third quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock valued at $127,162,000 after purchasing an additional 123,041 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FBIN has been the subject of several recent research reports. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating for the company. Barclays increased their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. The Goldman Sachs Group increased their target price on shares of Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.63.

Fortune Brands Innovations Trading Up 0.6 %

Shares of FBIN stock traded up $0.52 during trading hours on Thursday, reaching $84.67. 817,997 shares of the stock traded hands, compared to its average volume of 1,075,287. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.83. The business has a fifty day moving average price of $80.04 and a 200 day moving average price of $71.61. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $10.64 billion, a PE ratio of 26.71, a PEG ratio of 1.75 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now owns 2,435 shares in the company, valued at approximately $197,478.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company 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.