Carret Asset Management LLC Takes $216,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Carret Asset Management LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,837 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FBIN. Tobam boosted 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 worth $26,000 after buying an additional 319 shares in the last quarter. Sound Income Strategies LLC bought a new position in Fortune Brands Innovations during the 4th quarter valued at $27,000. Operose Advisors LLC bought a new position in Fortune Brands Innovations during the 3rd quarter valued at $31,000. BluePath Capital Management LLC bought a new position in Fortune Brands Innovations during the 3rd quarter valued at $32,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of Fortune Brands Innovations by 7,122.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock valued at $40,000 after purchasing an additional 641 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FBIN shares. Oppenheimer started 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 decreased their target price 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Finally, Barclays raised their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.44.

Fortune Brands Innovations Stock Performance

FBIN traded down $0.88 during trading hours on Thursday, hitting $72.65. The stock had a trading volume of 290,293 shares, compared to its average volume of 1,048,461. The company’s fifty day simple moving average is $79.95 and its 200 day simple moving average is $73.79. 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 $9.13 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.12 and a beta of 1.57. 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 (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current year.

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares in the company, valued at approximately $197,478.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.