Quantbot Technologies LP Makes New $1.12 Million Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Quantbot Technologies LP bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,336 shares of the company's stock, valued at approximately $1,116,000.

Several other institutional investors and hedge funds have also modified their holdings of FBIN. Brooklyn Investment Group bought a new position in Fortune Brands Innovations in the 3rd quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new stake in Fortune Brands Innovations during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations in the 4th quarter valued at about $55,000. IFP Advisors Inc raised its stake in shares of Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after acquiring an additional 275 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of 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 last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on FBIN. 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 for the company in a research report on Tuesday, January 14th. Barclays decreased their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. Royal Bank of Canada dropped their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Finally, UBS Group lowered 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of "Hold" and a consensus target price of $86.64.

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Fortune Brands Innovations Trading Down 3.0 %

NYSE FBIN traded down $1.87 during trading on Friday, reaching $60.84. 1,206,465 shares of the stock traded hands, compared to its average volume of 1,302,520. Fortune Brands Innovations, Inc. has a fifty-two week low of $59.64 and a fifty-two week high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The stock's 50-day moving average price is $66.71 and its 200 day moving average price is $75.00.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly 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 net margin of 10.24% and a return on equity of 22.05%. Analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares of the company's stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kristin Papesh purchased 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now owns 7,617 shares of the company's stock, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company's stock.

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.