FIL Ltd Purchases 4,382 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

FIL Ltd boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 714,421 shares of the company’s stock after acquiring an additional 4,382 shares during the quarter. FIL Ltd owned 0.58% of Fortune Brands Innovations worth $48,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after purchasing an additional 170 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Fortune Brands Innovations by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock valued at $208,000 after purchasing an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Fortune Brands Innovations by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock valued at $260,000 after purchasing an additional 201 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on FBIN. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price objective on the stock. Royal Bank of Canada decreased their price objective 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 decreased their price target 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 on the stock in a research note on Tuesday, January 14th. Finally, Barclays decreased their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.33.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 in the company, valued at $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. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Trading Up 11.4 %

FBIN opened at $54.09 on Thursday. Fortune Brands Innovations, Inc. has a twelve month low of $47.21 and a twelve month high of $90.54. The company has a 50-day simple moving average of $63.00 and a 200 day simple moving average of $73.01. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 EPS 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%. Analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal 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.