Amalgamated Bank Has $6.68 Million Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Amalgamated Bank reduced its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 87,694 shares of the company’s stock after selling 1,097 shares during the quarter. Amalgamated Bank owned approximately 0.07% of Fortune Brands Innovations worth $6,677,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Choreo LLC bought a new stake in Fortune Brands Innovations in the fourth quarter valued at $422,000. Arvest Investments Inc. bought a new stake in Fortune Brands Innovations in the 4th quarter valued at about $1,561,000. Louisiana State Employees Retirement System acquired a new position in Fortune Brands Innovations during the 4th quarter worth approximately $2,695,000. Walleye Trading LLC boosted its holdings in Fortune Brands Innovations by 72.4% in the third quarter. Walleye Trading LLC now owns 30,323 shares of the company’s stock worth $1,885,000 after acquiring an additional 12,738 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Fortune Brands Innovations in the third quarter valued at approximately $596,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $73.15 on Monday. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The firm’s fifty day moving average price is $79.00 and its 200-day moving average price is $74.40. The stock has a market cap of $9.15 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 2.02 and a beta of 1.58. 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:FBIN) last released its earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm earned $0.69 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FBIN. Evercore ISI reduced their price objective on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, May 1st. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They issued a “market perform” rating for the company. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Barclays lifted their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, Robert W. Baird increased their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus price target of $79.22.

Insider Buying and Selling at Fortune Brands Innovations

In related news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the sale, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.99% of the company’s stock.

Fortune Brands Innovations 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.