Dynamic Technology Lab Private Ltd Invests $1.09 Million in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Dynamic Technology Lab Private Ltd acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 16,010 shares of the company’s stock, valued at approximately $1,094,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FBIN. Resona Asset Management Co. Ltd. acquired a new stake in Fortune Brands Innovations in the fourth quarter valued at $2,551,000. Integrated Quantitative Investments LLC bought a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at about $342,000. Prudential PLC lifted its stake in Fortune Brands Innovations by 120.5% in the 4th quarter. Prudential PLC now owns 30,283 shares of the company’s stock valued at $2,069,000 after purchasing an additional 16,550 shares during the last quarter. Yoffe Investment Management LLC bought a new position in Fortune Brands Innovations during the fourth quarter worth about $223,000. Finally, Huntington National Bank increased its position in Fortune Brands Innovations by 3.5% during the fourth quarter. Huntington National Bank now owns 9,135 shares of the company’s stock worth $624,000 after buying an additional 313 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $52.98 on Friday. The company has a 50-day simple moving average of $65.18 and a two-hundred day simple moving average of $74.15. Fortune Brands Innovations, Inc. has a twelve month low of $50.61 and a twelve month high of $90.54. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Insider Activity

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristin Papesh bought 483 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FBIN. The Goldman Sachs Group cut their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. UBS Group cut their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Barclays reduced their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price objective on the stock. Finally, Royal Bank of Canada reduced their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.25.

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.