abrdn plc Has $36.18 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

abrdn plc lifted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 13.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 475,183 shares of the company’s stock after purchasing an additional 55,622 shares during the period. abrdn plc owned 0.38% of Fortune Brands Innovations worth $36,180,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FBIN. Cornerstone Investment Partners LLC bought a new position in Fortune Brands Innovations in the fourth quarter valued at about $224,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Fortune Brands Innovations by 4.5% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 10,506 shares of the company’s stock valued at $800,000 after acquiring an additional 456 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Fortune Brands Innovations by 3.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,900 shares of the company’s stock valued at $602,000 after acquiring an additional 300 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Fortune Brands Innovations by 8.0% in the fourth quarter. Vontobel Holding Ltd. now owns 9,238 shares of the company’s stock valued at $703,000 after acquiring an additional 684 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Fortune Brands Innovations in the fourth quarter valued at about $1,445,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 0.9 %

NYSE:FBIN opened at $72.87 on Tuesday. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 2.09 and a beta of 1.57. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92. The stock’s 50 day moving average price is $80.14 and its two-hundred day moving average price is $73.69. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16.

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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations 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 completion of the transaction, the director now directly owns 2,435 shares in the company, valued at approximately $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FBIN. BMO Capital Markets reiterated a “market perform” rating and issued a $82.00 price target (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Barclays raised their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Robert W. Baird reduced their target price on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Finally, Oppenheimer began coverage on Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.44.

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.