abrdn plc Purchases 55,622 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

abrdn plc grew its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 13.3% in the 4th quarter, HoldingsChannel reports. The firm owned 475,183 shares of the company’s stock after acquiring an additional 55,622 shares during the quarter. abrdn plc’s holdings in Fortune Brands Innovations were worth $36,180,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Fortune Brands Innovations by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock valued at $771,388,000 after acquiring an additional 50,047 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Fortune Brands Innovations by 6.4% in the 3rd quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock valued at $127,162,000 after acquiring an additional 123,041 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Fortune Brands Innovations by 15.7% in the 3rd quarter. Northern Trust Corp now owns 1,654,531 shares of the company’s stock valued at $102,846,000 after acquiring an additional 224,829 shares during the last quarter. FMR LLC lifted its stake in shares of Fortune Brands Innovations by 2.8% in the 3rd quarter. FMR LLC now owns 1,525,640 shares of the company’s stock valued at $94,834,000 after acquiring an additional 40,839 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Fortune Brands Innovations by 4.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,485,605 shares of the company’s stock valued at $92,345,000 after acquiring an additional 62,243 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $72.87 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $9.16 billion, a P/E ratio of 22.99, a PEG ratio of 2.09 and a beta of 1.57. The stock’s 50 day moving average is $80.14 and its 200 day moving average is $73.69. 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 posted its quarterly earnings results 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. The company had revenue of $1.16 billion for 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 firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction 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 directly owns 2,435 shares in the company, valued at approximately $197,478.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FBIN. Oppenheimer began coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They issued a “market perform” rating for the company. Barclays upped their price target 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. BMO Capital Markets reaffirmed 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 report on Wednesday, January 31st. Finally, Robert W. Baird lowered their price target 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus target price of $78.44.

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.