Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Position Lifted by American Century Companies Inc.

American Century Companies Inc. raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,026,291 shares of the company's stock after buying an additional 19,226 shares during the period. American Century Companies Inc. owned approximately 0.83% of Fortune Brands Innovations worth $70,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FBIN. Charles Schwab Investment Management Inc. increased its stake 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 position in shares of Fortune Brands Innovations during the 4th quarter worth $319,000. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations in the 4th quarter worth about $40,027,000. SG Americas Securities LLC increased its holdings in 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 acquiring an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp raised its position in Fortune Brands Innovations by 41.9% during the fourth 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 last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, EVP Kristin Papesh acquired 483 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction dated 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 owns 10,066 shares of the company's stock, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Fortune Brands Innovations Trading Down 3.0 %

Shares of FBIN stock traded down $1.87 during mid-day trading on Friday, reaching $60.84. The company's stock had a trading volume of 1,206,465 shares, compared to its average volume of 1,302,520. The company's 50 day simple moving average is $66.71 and its 200-day simple moving average is $75.00. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12-month low of $59.64 and a 12-month high of $90.54. The firm has a market capitalization of $7.46 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS 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%. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group reduced their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada cut their price objective 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. Barclays cut their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Finally, The Goldman Sachs Group decreased their price target 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $86.64.

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.