Essential Planning LLC. Makes New Investment in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Essential Planning LLC. purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,270 shares of the company's stock, valued at approximately $702,000.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC grew its position in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company's stock worth $530,040,000 after buying an additional 3,024,950 shares during the period. Amundi increased its stake in Fortune Brands Innovations by 166.8% in the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after purchasing an additional 1,442,195 shares in the last quarter. Nordea Investment Management AB raised its holdings in Fortune Brands Innovations by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company's stock worth $132,335,000 after purchasing an additional 35,289 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Fortune Brands Innovations by 11.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company's stock worth $111,650,000 after purchasing an additional 130,170 shares in the last quarter. Finally, Ninety One UK Ltd grew its holdings in Fortune Brands Innovations by 6.6% in the fourth quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company's stock valued at $82,398,000 after purchasing an additional 74,369 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price target 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 target price 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. Barclays lowered their price target 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 reduced their price objective 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $86.64.

Fortune Brands Innovations Stock Up 2.6 %

NYSE:FBIN traded up $1.59 during mid-day trading on Monday, hitting $63.71. The company had a trading volume of 1,272,990 shares, compared to its average volume of 1,245,148. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 1 year low of $59.64 and a 1 year high of $90.54. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 2.00 and a beta of 1.53. The business has a fifty day simple moving average of $68.36 and a 200-day simple moving average of $76.06.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kristin Papesh bought 483 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought 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 directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

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.