Olympiad Research LP Invests $296,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Olympiad Research LP bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,883 shares of the company’s stock, valued at approximately $296,000.

Other large investors have also recently made changes to their positions in the company. Apollon Wealth Management LLC raised its stake in Fortune Brands Innovations by 2.2% during the 4th quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock valued at $523,000 after acquiring an additional 149 shares during the last quarter. Addison Advisors LLC raised its stake in Fortune Brands Innovations by 38.7% during the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares during the last quarter. Tributary Capital Management LLC raised its stake in shares of Fortune Brands Innovations by 1.9% during the 4th quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock worth $659,000 after buying an additional 164 shares in the last quarter. Everhart Financial Group Inc. raised its stake in shares of Fortune Brands Innovations by 4.6% during the 4th quarter. Everhart Financial Group Inc. now owns 4,076 shares of the company’s stock worth $310,000 after buying an additional 178 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Fortune Brands Innovations by 10.7% during the 3rd quarter. Signaturefd LLC now owns 1,937 shares of the company’s stock worth $120,000 after buying an additional 187 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortune Brands Innovations

In related news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, 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 SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays raised their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Evercore ISI lowered their target price on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets reiterated a “market perform” rating and set a $82.00 target price (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Finally, Robert W. Baird raised their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Six research 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 stock presently has a consensus rating of “Hold” and an average target price of $79.22.

Read Our Latest Research Report on FBIN

Fortune Brands Innovations Stock Up 1.6 %

Shares of NYSE FBIN traded up $1.06 during midday trading on Thursday, reaching $68.81. 443,803 shares of the company’s stock were exchanged, compared to its average volume of 1,040,171. The stock has a market capitalization of $8.61 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 1.89 and a beta of 1.58. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.92. The business’s fifty day moving average price is $75.89 and its two-hundred day moving average price is $76.16. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.31 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.96 annualized dividend and a dividend yield of 1.40%. Fortune Brands Innovations’s dividend payout ratio is presently 29.36%.

Fortune Brands Innovations Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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