Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by PGGM Investments

PGGM Investments increased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,511 shares of the company’s stock after acquiring an additional 734 shares during the period. PGGM Investments’ holdings in Fortune Brands Innovations were worth $648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. raised its stake in 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 valued at $41,366,000 after purchasing an additional 622,253 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Fortune Brands Innovations by 62.8% during the 4th quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company’s stock worth $105,888,000 after purchasing an additional 534,901 shares during the period. Royal Bank of Canada grew its position in shares of Fortune Brands Innovations by 110.8% in the third quarter. Royal Bank of Canada now owns 779,237 shares of the company’s stock valued at $48,438,000 after purchasing an additional 409,598 shares during the period. Invesco Ltd. increased its stake in Fortune Brands Innovations by 64.5% in the third quarter. Invesco Ltd. now owns 892,752 shares of the company’s stock valued at $55,493,000 after purchasing an additional 350,082 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Fortune Brands Innovations by 28.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,195,313 shares of the company’s stock worth $91,011,000 after buying an additional 262,922 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction on Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FBIN. BMO Capital Markets reaffirmed a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Barclays boosted their price objective 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. Oppenheimer initiated coverage on Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating for the company. Finally, Robert W. Baird reduced their price objective on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.25.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $75.28 on Tuesday. 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 1-year low of $54.10 and a 1-year high of $84.92. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 2.11 and a beta of 1.57. The business has a 50-day moving average of $79.63 and a 200-day moving average of $74.16.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data 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 net margin of 8.74% and a return on equity of 22.61%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $1.07 earnings per share. Fortune Brands Innovations’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current fiscal year.

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.