Intech Investment Management LLC Purchases 826 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Intech Investment Management LLC grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 10.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,724 shares of the company’s stock after purchasing an additional 826 shares during the quarter. Intech Investment Management LLC’s holdings in Fortune Brands Innovations were worth $596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FBIN. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations during the third quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $55,000. IFP Advisors Inc grew its holdings in shares of 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 buying an additional 275 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after acquiring an additional 219 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays lowered their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada dropped their target price 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 reduced their price target 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. Finally, The Goldman Sachs Group dropped their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six equities 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 currently has a consensus rating of “Hold” and an average price target of $86.64.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost 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 in the company, valued at $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN opened at $63.84 on Tuesday. Fortune Brands Innovations, Inc. has a 1 year low of $59.64 and a 1 year 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 company’s fifty day moving average price is $67.66 and its 200 day moving average price is $75.44. The company has a market capitalization of $7.83 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last posted 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%. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations 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.