GAMMA Investing LLC Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

GAMMA Investing LLC bought a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,506 shares of the company’s stock, valued at approximately $117,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Fortune Brands Innovations by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock valued at $771,388,000 after buying an additional 50,047 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Fortune Brands Innovations by 6.4% during the 3rd quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock valued at $127,162,000 after buying an additional 123,041 shares in the last quarter. Northern Trust Corp raised its position in shares of Fortune Brands Innovations by 15.7% during the 3rd quarter. Northern Trust Corp now owns 1,654,531 shares of the company’s stock valued at $102,846,000 after buying an additional 224,829 shares in the last quarter. FMR LLC raised its position in shares of Fortune Brands Innovations by 2.8% during the 3rd quarter. FMR LLC now owns 1,525,640 shares of the company’s stock valued at $94,834,000 after buying an additional 40,839 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Fortune Brands Innovations by 4.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,485,605 shares of the company’s stock valued at $92,345,000 after buying an additional 62,243 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Trading Up 1.3 %

Shares of NYSE FBIN opened at $74.18 on Monday. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $84.92. The stock has a market cap of $9.32 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.57. The firm has a 50-day moving average of $79.71 and a 200 day moving average of $74.05. 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 issued its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a research 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 target price (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Barclays raised their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, Robert W. Baird cut their price target on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.25.

Insiders Place Their Bets

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 shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the transaction, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction 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.