Andra AP fonden Buys 45,000 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Andra AP fonden boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 113.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,600 shares of the company's stock after purchasing an additional 45,000 shares during the quarter. Andra AP fonden owned approximately 0.07% of Fortune Brands Innovations worth $5,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $55,000. IFP Advisors Inc raised its position in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after purchasing an additional 275 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Fortune Brands Innovations in the 3rd quarter worth about $81,000. Finally, Blue Trust Inc. grew its position in Fortune Brands Innovations by 18.0% during the 4th 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. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN traded down $0.36 during midday trading on Wednesday, hitting $61.00. The company had a trading volume of 1,292,695 shares, compared to its average volume of 1,244,446. Fortune Brands Innovations, Inc. has a 12-month low of $60.47 and a 12-month high of $90.54. The company has a fifty day moving average of $68.77 and a two-hundred day moving average of $76.45. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

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Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate 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, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ron Wilson sold 1,500 shares of the business'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 completion of the transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FBIN. 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 for the company in a report on Friday, February 7th. Barclays lowered their price objective on 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 reduced their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Finally, The Goldman Sachs Group lowered their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of "Hold" and an average price target of $86.64.

Fortune Brands Innovations Company 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.