Prudential PLC Raises Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Prudential PLC grew its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 120.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,283 shares of the company's stock after buying an additional 16,550 shares during the quarter. Prudential PLC's holdings in Fortune Brands Innovations were worth $2,069,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake 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 worth $59,094,000 after acquiring an additional 11,722 shares during the last quarter. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at $319,000. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter worth $40,027,000. SG Americas Securities LLC grew its stake in shares of Fortune Brands Innovations by 812.5% during the fourth 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 in the last quarter. Finally, M&T Bank Corp increased its holdings in Fortune Brands Innovations by 41.9% in the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company's stock valued at $1,612,000 after buying an additional 6,971 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN traded down $0.89 during midday trading on Friday, reaching $50.59. 664,082 shares of the company were exchanged, compared to its average volume of 1,367,570. The stock has a market cap of $6.13 billion, a P/E ratio of 13.53, a PEG 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. The stock has a fifty day simple moving average of $62.65 and a 200 day simple moving average of $72.76. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

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Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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%. On average, research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kristin Papesh acquired 483 shares of the company's 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 acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on FBIN. The Goldman Sachs Group decreased their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada decreased their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price objective on the stock. UBS Group lowered their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Finally, Barclays cut their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of "Hold" and a consensus price target of $84.33.

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.