JPMorgan Chase & Co. Acquires 114,391 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

JPMorgan Chase & Co. grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,445,959 shares of the company’s stock after acquiring an additional 114,391 shares during the quarter. JPMorgan Chase & Co. owned about 3.58% of Fortune Brands Innovations worth $303,792,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in Fortune Brands Innovations in the 3rd quarter worth approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. purchased a new position in Fortune Brands Innovations in the fourth quarter worth $55,000. IFP Advisors Inc increased its stake in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after acquiring an additional 275 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group cut their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays reduced 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 research report on Friday, February 7th. UBS Group lowered their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Royal Bank of Canada reduced their target price 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN opened at $60.84 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $66.71 and a 200-day moving average price of $74.97. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month high of $90.54.

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

Fortune Brands Innovations Company 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.