Daiwa Securities Group Inc. Buys 300 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Daiwa Securities Group Inc. grew its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,900 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fortune Brands Innovations were worth $602,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FBIN. Tobam boosted its stake in Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after purchasing an additional 319 shares during the last quarter. Sound Income Strategies LLC bought a new position in Fortune Brands Innovations during the 4th quarter valued at about $27,000. Operose Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $31,000. BluePath Capital Management LLC bought a new stake in shares of Fortune Brands Innovations in the third quarter worth approximately $32,000. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Fortune Brands Innovations by 7,122.2% during the third quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock valued at $40,000 after purchasing an additional 641 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on FBIN. Oppenheimer started coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating on the stock. BMO Capital Markets reissued a “market perform” rating and issued a $82.00 target price (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Barclays upped their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, Robert W. Baird cut their target price on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $78.44.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $73.22 on Friday. The company has a market capitalization of $9.20 billion, a P/E ratio of 23.10, a P/E/G ratio of 2.12 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.92. The firm’s 50 day simple moving average is $79.81 and its two-hundred day simple moving average is $73.79. 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 earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share 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 company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $1.07 EPS. Fortune Brands Innovations’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts expect that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current fiscal year.

Insider Transactions at Fortune Brands Innovations

In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction that occurred 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 sale, the director now owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% 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.