Schroder Investment Management Group Boosts Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Schroder Investment Management Group increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,629 shares of the company’s stock after buying an additional 238 shares during the quarter. Schroder Investment Management Group’s holdings in Fortune Brands Innovations were worth $3,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Fortune Brands Innovations during the fourth quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new position in Fortune Brands Innovations during the 4th quarter worth $55,000. IFP Advisors Inc increased its stake in Fortune Brands Innovations by 47.6% in 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 during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $82,000. Finally, Blue Trust Inc. raised its holdings in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after buying an additional 219 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now 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 acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president now directly 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. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target on the stock. Royal Bank of Canada cut their price target on 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. Barclays lowered their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. UBS Group cut 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. Finally, The Goldman Sachs Group lowered their target price 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $85.25.

Fortune Brands Innovations Trading Down 3.7 %

Shares of Fortune Brands Innovations stock opened at $52.98 on Friday. The company has a 50-day moving average of $65.18 and a two-hundred day moving average of $74.15. Fortune Brands Innovations, Inc. has a 12-month low of $50.61 and a 12-month high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock has a market cap of $6.42 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal 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.