Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 26.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 80,391 shares of the company’s stock after acquiring an additional 17,041 shares during the quarter. Sei Investments Co.’s holdings in Fortune Brands Innovations were worth $5,491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Fortune Brands Innovations by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock valued at $59,094,000 after purchasing an additional 11,722 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $319,000. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $40,027,000. SG Americas Securities LLC raised its holdings in shares of Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after buying an additional 29,867 shares during the period. Finally, M&T Bank Corp boosted its holdings in Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock worth $1,612,000 after acquiring an additional 6,971 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ron Wilson sold 1,500 shares of the company’s 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 directly owns 10,066 shares in the company, valued at $693,950.04. This 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 bought 483 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $60.91 on Wednesday. The stock’s 50 day simple moving average is $66.16 and its 200 day simple moving average is $74.67. Fortune Brands Innovations, Inc. has a 12-month low of $59.58 and a 12-month high of $90.54. The firm has a market cap of $7.47 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.00 and a beta of 1.53. 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 (NYSE:FBIN) last issued its 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%. As a group, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada dropped 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 research note on Friday, February 7th. Barclays dropped 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 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 report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research report on Tuesday. They set a “hold” rating and a $70.00 target price on the stock. Finally, The Goldman Sachs Group reduced their price target 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. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $85.25.

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.