Fortune Brands Innovations, Inc. (NYSE:FBIN) Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 864,833 shares of the company’s stock after purchasing an additional 11,722 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Fortune Brands Innovations were worth $59,094,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the period. Nordea Investment Management AB boosted its stake in Fortune Brands Innovations by 1.9% in the 4th 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 worth $111,650,000 after purchasing an additional 130,170 shares during the period. Ninety One UK Ltd boosted its stake in Fortune Brands Innovations by 6.6% in the 4th quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after purchasing an additional 74,369 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Fortune Brands Innovations by 5.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 381,827 shares of the company’s stock worth $34,185,000 after purchasing an additional 21,362 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FBIN shares. Barclays decreased their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. 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 for the company in a research note on Friday, February 7th. UBS Group decreased 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 research note on Friday, February 7th. Finally, The Goldman Sachs Group cut their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average price target of $86.64.

Insider Activity

In other news, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $472,177.83. The trade was a 6.77 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction 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 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 disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Fortune Brands Innovations Stock Down 0.6 %

Fortune Brands Innovations stock opened at $61.00 on Thursday. The company has a market capitalization of $7.48 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.00 and a beta of 1.53. The firm’s fifty day simple moving average is $68.63 and its 200-day simple moving average is $76.35. 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 $60.42 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released 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 net margin of 10.24% and a return on equity of 22.05%. Sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

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.