PGGM Investments Grows Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

PGGM Investments grew its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,511 shares of the company’s stock after purchasing an additional 734 shares during the period. PGGM Investments’ holdings in Fortune Brands Innovations were worth $648,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Addison Advisors LLC grew its position in Fortune Brands Innovations by 38.7% in the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares during the last quarter. Tributary Capital Management LLC increased its stake in Fortune Brands Innovations by 1.9% in the 4th quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock worth $659,000 after buying an additional 164 shares during the period. Everhart Financial Group Inc. increased its stake in Fortune Brands Innovations by 4.6% in the 4th quarter. Everhart Financial Group Inc. now owns 4,076 shares of the company’s stock worth $310,000 after buying an additional 178 shares during the period. Signaturefd LLC lifted its holdings in Fortune Brands Innovations by 10.7% during the 3rd quarter. Signaturefd LLC now owns 1,937 shares of the company’s stock valued at $120,000 after buying an additional 187 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its position in Fortune Brands Innovations by 23.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $78,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.99% of the company’s stock.

Fortune Brands Innovations Trading Up 1.5 %

Shares of NYSE:FBIN opened at $75.28 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $9.46 billion, a PE ratio of 23.75, a P/E/G ratio of 2.11 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92. The business’s fifty day simple moving average is $79.63 and its 200-day simple moving average is $74.16.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FBIN shares. Oppenheimer started coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Robert W. Baird dropped their price target on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Finally, Barclays raised their price target on Fortune Brands Innovations from $87.00 to $95.00 and gave the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.25.

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.