Tocqueville Asset Management L.P. Grows Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tocqueville Asset Management L.P. raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 150.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,104 shares of the company’s stock after buying an additional 43,267 shares during the period. Tocqueville Asset Management L.P.’s holdings in Fortune Brands Innovations were worth $4,927,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of FBIN. FMR LLC grew its holdings in shares of Fortune Brands Innovations by 104.5% in the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after acquiring an additional 3,024,950 shares in the last quarter. Amundi boosted its position in Fortune Brands Innovations by 166.8% in the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after purchasing an additional 1,442,195 shares during the last quarter. Nordea Investment Management AB boosted its position in Fortune Brands Innovations by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after purchasing an additional 35,289 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after purchasing an additional 130,170 shares during the period. Finally, Ninety One UK Ltd increased its position in shares of Fortune Brands Innovations by 6.6% during the 4th quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock valued at $82,398,000 after purchasing an additional 74,369 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Insider Activity

In other news, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $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.

Fortune Brands Innovations Trading Down 0.6 %

Shares of FBIN stock opened at $63.24 on Wednesday. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.00 and a beta of 1.53. The company’s fifty day simple moving average is $68.17 and its two-hundred day simple moving average is $75.84. Fortune Brands Innovations, Inc. has a 1 year low of $59.64 and a 1 year high of $90.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FBIN has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. UBS Group dropped their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. 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 research note on Tuesday, January 14th. Finally, Barclays lowered their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $86.64.

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.