Vanguard Group Inc. Grows Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Vanguard Group Inc. increased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,027,516 shares of the company’s stock after acquiring an additional 68,404 shares during the quarter. Vanguard Group Inc. owned 0.10% of Fortune Brands Innovations worth $821,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in Fortune Brands Innovations in the third quarter worth approximately $25,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new position in Fortune Brands Innovations in the 4th quarter worth $55,000. IFP Advisors Inc lifted its position in Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after purchasing an additional 275 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings 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 during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $60.84 on Friday. The company has a market cap of $7.46 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 52-week low of $59.64 and a 52-week high of $90.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The firm’s fifty day moving average is $66.71 and its two-hundred day moving average is $75.00.

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

Insiders Place Their Bets

In related news, EVP Kristin Papesh acquired 483 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business’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 transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

FBIN has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. UBS Group lowered 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 report on Friday, February 7th. The Goldman Sachs Group reduced their price objective 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 target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company 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.