Graypoint LLC Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Graypoint LLC purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,058 shares of the company’s stock, valued at approximately $233,000.

Other large investors have also made changes to their positions in the company. Arvest Investments Inc. purchased a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $1,561,000. Walleye Trading LLC increased 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 valued at $1,885,000 after acquiring an additional 12,738 shares in the last quarter. Jump Financial LLC purchased a new position in Fortune Brands Innovations during the 3rd quarter valued at about $596,000. Achmea Investment Management B.V. increased its holdings in Fortune Brands Innovations by 148.0% during the 3rd quarter. Achmea Investment Management B.V. now owns 130,914 shares of the company’s stock valued at $8,138,000 after acquiring an additional 78,135 shares in the last quarter. Finally, Aviva PLC increased its holdings in Fortune Brands Innovations by 10.4% during the 3rd quarter. Aviva PLC now owns 193,233 shares of the company’s stock valued at $12,011,000 after acquiring an additional 18,274 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $76.30 on Tuesday. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92. The stock has a market capitalization of $9.59 billion, a P/E ratio of 24.07, a P/E/G ratio of 2.21 and a beta of 1.57. The firm’s 50-day moving average is $80.70 and its two-hundred day moving average is $73.22. 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 (NYSE:FBIN) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts predict that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ronald V. Waters sold 2,000 shares of the firm’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 sale, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating for the company. Barclays raised their target price 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. Finally, BMO Capital Markets restated a “market perform” rating and set a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Moderate Buy” and an average target price of $77.63.

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.