Dynamic Technology Lab Private Ltd Acquires New Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 16,010 shares of the company's stock, valued at approximately $1,094,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Verition Fund Management LLC increased its holdings in Fortune Brands Innovations by 166.1% in the third quarter. Verition Fund Management LLC now owns 10,608 shares of the company's stock valued at $950,000 after buying an additional 6,622 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $972,000. Investment Management Corp of Ontario acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at approximately $370,000. Point72 Asset Management L.P. bought a new position in Fortune Brands Innovations during the third quarter worth $11,114,000. Finally, Quantinno Capital Management LP increased its stake in Fortune Brands Innovations by 14.8% during the third quarter. Quantinno Capital Management LP now owns 34,309 shares of the company's stock valued at $3,072,000 after purchasing an additional 4,426 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN traded down $0.83 during trading on Friday, hitting $50.65. The company had a trading volume of 664,082 shares, compared to its average volume of 1,367,570. The company has a market cap of $6.14 billion, a P/E ratio of 13.53, a PEG ratio of 2.00 and a beta of 1.42. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The business's 50-day moving average is $62.65 and its 200 day moving average is $72.76. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54.

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Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price for the company. Royal Bank of Canada reduced their price objective on 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. UBS Group dropped their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, Barclays reduced their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $84.33.

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.