Yousif Capital Management LLC Lowers Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Yousif Capital Management LLC cut its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,236 shares of the company’s stock after selling 470 shares during the quarter. Yousif Capital Management LLC’s holdings in Fortune Brands Innovations were worth $4,663,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Arvest Investments Inc. purchased a new stake in Fortune Brands Innovations in the fourth quarter worth about $1,561,000. Louisiana State Employees Retirement System purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $2,695,000. Walleye Trading LLC lifted its position in shares of Fortune Brands Innovations by 72.4% during the third quarter. Walleye Trading LLC now owns 30,323 shares of the company’s stock valued at $1,885,000 after buying an additional 12,738 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Fortune Brands Innovations during the third quarter valued at about $596,000. Finally, Achmea Investment Management B.V. lifted its position in shares of Fortune Brands Innovations by 148.0% during the third quarter. Achmea Investment Management B.V. now owns 130,914 shares of the company’s stock valued at $8,138,000 after buying an additional 78,135 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were 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 approximately $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

FBIN has been the subject of several analyst reports. Barclays increased their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Oppenheimer started coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating on the stock. Finally, BMO Capital Markets restated a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.44.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $74.17 on Friday. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92. The company’s 50 day moving average is $79.71 and its 200 day moving average is $73.88. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. The company has a market cap of $9.32 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 2.08 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS. On average, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current year.

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.