Townsquare Capital LLC Sells 727 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Townsquare Capital LLC lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,039 shares of the company’s stock after selling 727 shares during the quarter. Townsquare Capital LLC’s holdings in Fortune Brands Innovations were worth $413,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Fortune Brands Innovations by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock worth $821,840,000 after buying an additional 68,404 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Fortune Brands Innovations by 2.6% during the 4th quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company’s stock worth $303,792,000 after acquiring an additional 114,391 shares in the last quarter. Wellington Management Group LLP increased its position in Fortune Brands Innovations by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock valued at $196,153,000 after purchasing an additional 1,110,021 shares during the period. Amundi raised its holdings in shares of Fortune Brands Innovations by 166.8% in the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after purchasing an additional 1,442,195 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of 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. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Fortune Brands Innovations Stock Up 1.9 %

NYSE:FBIN opened at $51.41 on Monday. 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 twelve month low of $47.21 and a twelve month high of $90.54. The company has a market cap of $6.23 billion, a PE ratio of 13.71, a P/E/G ratio of 2.00 and a beta of 1.42. The company’s 50 day moving average is $60.55 and its two-hundred day moving average is $71.11.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data 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%. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group cut their price objective 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. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a “hold” rating and a $70.00 price objective for the company. The Goldman Sachs Group cut their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada decreased their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Barclays lowered their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.33.

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.