Tocqueville Asset Management L.P. Acquires 43,267 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tocqueville Asset Management L.P. grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 150.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 72,104 shares of the company’s stock after acquiring an additional 43,267 shares during the period. Tocqueville Asset Management L.P. owned about 0.06% of Fortune Brands Innovations worth $4,927,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Fortune Brands Innovations in the third quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $55,000. IFP Advisors Inc raised its position in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after acquiring an additional 275 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of Fortune Brands Innovations in the third quarter worth approximately $81,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FBIN. The Goldman Sachs Group lowered 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. UBS Group lowered their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Barclays dropped their target price 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. Finally, Royal Bank of Canada decreased their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and five 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 $86.64.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $63.24 on Wednesday. The firm has a market capitalization of $7.75 billion, a P/E ratio of 16.87, a P/E/G ratio of 2.00 and a beta of 1.53. The firm’s 50-day moving average price is $68.17 and its 200-day moving average price is $75.84. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 1-year low of $59.64 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

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.