AXQ Capital LP Purchases Shares of 17,619 Fortune Brands Innovations, Inc. (NYSE:FBIN)

AXQ Capital LP acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,619 shares of the company's stock, valued at approximately $1,204,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in Fortune Brands Innovations in the 3rd quarter worth $25,000. Flagship Wealth Advisors LLC acquired a new stake in Fortune Brands Innovations during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. bought a new position in Fortune Brands Innovations during the fourth quarter valued at about $55,000. IFP Advisors Inc raised its holdings in Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after acquiring an additional 275 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FBIN shares. UBS Group lowered their price objective on 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. 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 note on Tuesday, January 14th. Barclays reduced their price objective on shares of 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, Royal Bank of Canada lowered 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 note on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average price target of $86.64.

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Fortune Brands Innovations Trading Down 0.9 %

FBIN stock traded down $0.60 during trading on Wednesday, hitting $62.19. The company had a trading volume of 1,339,261 shares, compared to its average volume of 1,261,112. The firm has a 50-day moving average price of $67.22 and a 200-day moving average price of $75.24. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month 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 stock has a market cap of $7.62 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced 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%. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Buying and Selling at Fortune Brands Innovations

In related 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 completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were acquired 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 position. The disclosure for this purchase can be found here. 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.