Korea Investment CORP Raises Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Korea Investment CORP lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 37.1% in the fourth quarter, Holdings Channel reports. The firm owned 56,526 shares of the company’s stock after buying an additional 15,300 shares during the period. Korea Investment CORP’s holdings in Fortune Brands Innovations were worth $3,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC raised its position in Fortune Brands Innovations by 1.7% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after purchasing an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after acquiring an additional 156 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after acquiring an additional 170 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in Fortune Brands Innovations by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after acquiring an additional 190 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Fortune Brands Innovations by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $60.91 on Wednesday. The firm has a market cap of $7.47 billion, a PE ratio of 16.24, a P/E/G ratio of 2.00 and a beta of 1.53. The business has a 50-day moving average price of $66.16 and a 200 day moving average price of $74.67. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a twelve month low of $59.58 and a twelve month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a report on Tuesday. They set a “hold” rating and a $70.00 target price for the company. The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Barclays decreased their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, UBS Group reduced their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $85.25.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

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.