K.J. Harrison & Partners Inc Buys New Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN)

K.J. Harrison & Partners Inc purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,200 shares of the company’s stock, valued at approximately $777,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. AE Wealth Management LLC boosted its holdings in Fortune Brands Innovations by 72.4% in the 3rd quarter. AE Wealth Management LLC now owns 18,575 shares of the company’s stock valued at $1,155,000 after purchasing an additional 7,802 shares in the last quarter. Oak Thistle LLC purchased a new stake in Fortune Brands Innovations in the 3rd quarter valued at approximately $423,000. Fenimore Asset Management Inc. boosted its holdings in Fortune Brands Innovations by 0.5% in the 3rd quarter. Fenimore Asset Management Inc. now owns 641,507 shares of the company’s stock valued at $39,876,000 after purchasing an additional 3,107 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Fortune Brands Innovations by 16.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 75,205 shares of the company’s stock valued at $4,675,000 after purchasing an additional 10,840 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Fortune Brands Innovations by 142.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 237,228 shares of the company’s stock worth $14,746,000 after acquiring an additional 139,259 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 1.3 %

FBIN traded up $0.96 during trading on Friday, hitting $74.18. The company’s stock had a trading volume of 1,023,086 shares, compared to its average volume of 970,123. The firm’s 50 day moving average price is $79.71 and its 200-day moving average price is $73.88. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. The stock has a market cap of $9.32 billion, a PE ratio of 23.40, a PEG ratio of 2.08 and a beta of 1.57. 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 released its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 EPS. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FBIN has been the topic of several research analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price target (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Oppenheimer assumed coverage on Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating for the company. Robert W. Baird cut their price objective on 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. Finally, Barclays lifted their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $78.44.

Insider Transactions at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction dated 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 owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.