Ceredex Value Advisors LLC Acquires 39,650 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Ceredex Value Advisors LLC raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 27.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 186,750 shares of the company's stock after buying an additional 39,650 shares during the quarter. Ceredex Value Advisors LLC owned 0.15% of Fortune Brands Innovations worth $12,761,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Fortune Brands Innovations by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock worth $821,840,000 after acquiring an additional 68,404 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Fortune Brands Innovations by 2.6% in the fourth quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock valued at $303,792,000 after buying an additional 114,391 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Fortune Brands Innovations by 63.0% in the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock valued at $196,153,000 after buying an additional 1,110,021 shares during the period. Amundi raised its holdings in shares of Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company's stock worth $157,953,000 after acquiring an additional 1,442,195 shares during the period. Finally, Nordea Investment Management AB lifted its position in Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company's stock valued at $132,335,000 after acquiring an additional 35,289 shares in the last quarter. Institutional investors own 87.60% of the company's stock.

Insiders Place Their Bets

In related news, EVP Kristin Papesh purchased 483 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction dated Monday, February 10th. The stock was 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 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. Corporate insiders own 1.00% of the company's stock.

Fortune Brands Innovations Stock Performance

NYSE:FBIN traded up $0.95 during mid-day trading on Tuesday, hitting $50.89. 307,974 shares of the stock were exchanged, compared to its average volume of 1,788,740. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The firm's 50-day simple moving average is $60.17 and its 200 day simple moving average is $70.86. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released 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 net margin of 10.24% and a return on equity of 22.05%. As a group, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays cut their price target on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. UBS Group decreased their price objective 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. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target on the stock. 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 report on Friday, February 7th. Finally, The Goldman Sachs Group decreased 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 report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of "Hold" and a consensus target price of $84.33.

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.