Amundi Grows Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Amundi grew its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 166.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,306,864 shares of the company's stock after buying an additional 1,442,195 shares during the quarter. Amundi owned 1.86% of Fortune Brands Innovations worth $157,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. CIBC Asset Management Inc raised its position in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company's stock valued at $323,000 after buying an additional 121 shares in the last quarter. Smithfield Trust Co raised its position in Fortune Brands Innovations by 4.6% in the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company's stock worth $271,000 after purchasing an additional 133 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Fortune Brands Innovations by 1.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock worth $556,000 after purchasing an additional 138 shares during the period. Atria Wealth Solutions Inc. raised its position in Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock worth $222,000 after purchasing an additional 156 shares during the period. Finally, UMB Bank n.a. raised its position in Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock worth $115,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 87.60% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group decreased their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Barclays decreased their target price 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. The Goldman Sachs Group decreased 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 research report on Tuesday, January 14th. Finally, Royal Bank of Canada decreased their target price on shares of 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $86.64.

Insider Activity

In other news, EVP Kristin Papesh bought 483 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was 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 approximately $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Fortune Brands Innovations Trading Down 1.6 %

Shares of FBIN stock traded down $0.98 during mid-day trading on Thursday, reaching $60.03. The stock had a trading volume of 1,204,192 shares, compared to its average volume of 1,246,868. The stock's 50-day moving average price is $68.63 and its two-hundred day moving average price is $76.35. Fortune Brands Innovations, Inc. has a 52-week low of $59.67 and a 52-week high of $90.54. The firm has a market capitalization of $7.36 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. 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 (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) 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%. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share 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.