857 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Purchased by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 857 shares of the company’s stock, valued at approximately $65,000.

Several other hedge funds have also recently bought and sold shares of FBIN. Summit Trail Advisors LLC raised its position in Fortune Brands Innovations by 15.1% in the 4th quarter. Summit Trail Advisors LLC now owns 7,196 shares of the company’s stock valued at $548,000 after purchasing an additional 945 shares in the last quarter. Natixis Advisors L.P. raised its position in Fortune Brands Innovations by 4.1% in the 4th quarter. Natixis Advisors L.P. now owns 40,310 shares of the company’s stock valued at $3,068,000 after purchasing an additional 1,577 shares in the last quarter. Victory Capital Management Inc. raised its position in Fortune Brands Innovations by 15.2% in the 4th quarter. Victory Capital Management Inc. now owns 28,555 shares of the company’s stock valued at $2,174,000 after purchasing an additional 3,764 shares in the last quarter. Choreo LLC acquired a new stake in Fortune Brands Innovations in the 4th quarter valued at about $422,000. Finally, PGGM Investments raised its position in Fortune Brands Innovations by 9.4% in the 4th quarter. PGGM Investments now owns 8,511 shares of the company’s stock valued at $648,000 after purchasing an additional 734 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

FBIN traded up $0.61 during trading on Monday, hitting $73.76. 730,235 shares of the stock were exchanged, compared to its average volume of 1,085,872. The firm has a market capitalization of $9.23 billion, a P/E ratio of 22.54, a PEG ratio of 2.02 and a beta of 1.58. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.92. The stock has a fifty day moving average price of $79.00 and a two-hundred day moving average price of $74.51. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on FBIN. Robert W. Baird increased their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Oppenheimer assumed coverage on Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Barclays increased their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, Evercore ISI dropped their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.22.

Insider Activity

In other news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 of the company’s stock, valued at $197,478.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.99% of the company’s stock.

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.