Louisiana State Employees Retirement System Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Louisiana State Employees Retirement System purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 35,400 shares of the company’s stock, valued at approximately $2,695,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FBIN. Tobam lifted its holdings in shares of 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 buying an additional 319 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Fortune Brands Innovations in the 4th quarter worth $27,000. Operose Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth $31,000. BluePath Capital Management LLC purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth $32,000. Finally, IFP Advisors Inc purchased a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth $36,000. 87.60% of the stock is owned by institutional investors.

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 shares were 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.99% of the company’s stock.

Fortune Brands Innovations Trading Down 1.6 %

Shares of Fortune Brands Innovations stock opened at $76.30 on Tuesday. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.21 and a beta of 1.57. The business has a 50-day moving average price of $80.70 and a 200-day moving average price of $73.22. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 EPS. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Ratings Changes

FBIN has been the subject of several analyst reports. Barclays upped their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Oppenheimer initiated coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets restated a “market perform” rating and issued a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.63.

Fortune Brands Innovations Company 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.