Distillate Capital Partners LLC Invests $14.90 Million in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Distillate Capital Partners LLC bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 218,121 shares of the company's stock, valued at approximately $14,904,000. Distillate Capital Partners LLC owned approximately 0.18% of Fortune Brands Innovations at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company's stock valued at $59,094,000 after buying an additional 11,722 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $319,000. Raymond James Financial Inc. purchased a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $40,027,000. SG Americas Securities LLC raised its holdings in Fortune Brands Innovations by 812.5% in the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock worth $2,292,000 after purchasing an additional 29,867 shares during the period. Finally, M&T Bank Corp raised its holdings in Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company's stock worth $1,612,000 after purchasing an additional 6,971 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock traded down $0.06 on Tuesday, hitting $51.48. 2,078,481 shares of the company were exchanged, compared to its average volume of 1,390,719. 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 company has a 50-day moving average price of $61.60 and a 200 day moving average price of $72.01. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54.

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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 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, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on FBIN shares. The Goldman Sachs Group cut their price objective on 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. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Royal Bank of Canada dropped 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. Barclays cut their target price on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $84.33.

Insider Activity

In other news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred 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 approximately $693,950.04. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kristin Papesh acquired 483 shares of the 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 transaction, the executive vice president now directly owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.