Brandywine Global Investment Management LLC Sells 5,450 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Brandywine Global Investment Management LLC lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 71,098 shares of the company's stock after selling 5,450 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.06% of Fortune Brands Innovations worth $4,858,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Fortune Brands Innovations by 2.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 70,144 shares of the company's stock valued at $6,280,000 after acquiring an additional 1,379 shares during the period. Townsquare Capital LLC raised its stake in shares of Fortune Brands Innovations by 13.6% during the 3rd quarter. Townsquare Capital LLC now owns 6,766 shares of the company's stock valued at $606,000 after purchasing an additional 810 shares during the period. Verition Fund Management LLC lifted its holdings in Fortune Brands Innovations by 166.1% during the 3rd quarter. Verition Fund Management LLC now owns 10,608 shares of the company's stock worth $950,000 after purchasing an additional 6,622 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Fortune Brands Innovations in the 3rd quarter worth about $541,000. Finally, Paloma Partners Management Co purchased a new position in Fortune Brands Innovations during the 3rd quarter valued at about $874,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction 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 corporate insiders.

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Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FBIN shares. UBS Group lowered their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group cut their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Barclays decreased their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price on 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. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $85.25.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN traded down $2.02 during trading hours on Friday, reaching $52.98. 3,720,161 shares of the stock traded hands, compared to its average volume of 1,324,313. The company's 50-day simple moving average is $65.18 and its two-hundred day simple moving average is $74.08. The company has a market capitalization of $6.42 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a 52-week low of $50.61 and a 52-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.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results 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%. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current 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.