Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by Amundi

Amundi grew its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 166.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,306,864 shares of the company’s stock after acquiring an additional 1,442,195 shares during the period. Amundi’s holdings in Fortune Brands Innovations were worth $157,953,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FBIN. FMR LLC lifted its position in Fortune Brands Innovations by 104.5% in the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after purchasing an additional 3,024,950 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after buying an additional 35,289 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Fortune Brands Innovations by 11.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after buying an additional 130,170 shares in the last quarter. Ninety One UK Ltd grew its holdings in Fortune Brands Innovations by 6.6% during the fourth quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after acquiring an additional 74,369 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock valued at $59,094,000 after acquiring an additional 11,722 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on FBIN. UBS Group lowered their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada decreased their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, Barclays decreased their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Trading Up 1.0 %

FBIN opened at $63.83 on Monday. The stock has a market capitalization of $7.82 billion, a PE ratio of 17.02, a P/E/G ratio of 2.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. Fortune Brands Innovations, Inc. has a 12-month low of $60.81 and a 12-month high of $90.54. The firm’s fifty day moving average price is $68.99 and its 200 day moving average price is $76.70.

Fortune Brands Innovations (NYSE:FBIN) last issued 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%. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Fortune Brands Innovations’s payout ratio is 26.67%.

About Fortune Brands Innovations

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.