Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 63.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,870,673 shares of the company's stock after purchasing an additional 1,110,021 shares during the quarter. Wellington Management Group LLP owned about 2.34% of Fortune Brands Innovations worth $196,153,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FBIN. Flagship Wealth Advisors LLC bought a new position in Fortune Brands Innovations during the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $55,000. IFP Advisors Inc grew its position in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after acquiring an additional 275 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Fortune Brands Innovations during the fourth quarter worth approximately $82,000. Finally, Blue Trust Inc. increased its stake in Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after acquiring an additional 219 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kristin Papesh purchased 483 shares of the business's stock in a transaction dated 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 owns 7,617 shares of the company's stock, valued at $472,177.83. The trade was a 6.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 10,066 shares of the company's stock, valued at approximately $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. 1.20% of the stock is owned by insiders.

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Fortune Brands Innovations Trading Down 4.1 %

Shares of Fortune Brands Innovations stock traded down $2.18 on Monday, hitting $50.85. 4,102,518 shares of the company traded hands, compared to its average volume of 1,335,381. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The company has a market cap of $6.16 billion, a PE ratio of 13.56, a PEG ratio of 2.00 and a beta of 1.42. The stock's 50 day moving average price is $64.71 and its 200-day moving average price is $73.82. Fortune Brands Innovations, Inc. has a 52 week low of $50.04 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results 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 net margin of 10.24% and a return on equity of 22.05%. Equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 target price for the company. Royal Bank of Canada cut 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 report on Friday, February 7th. The Goldman Sachs Group reduced their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Barclays dropped 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 research note on Friday, February 7th. Finally, UBS Group reduced their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of "Hold" and a consensus target price of $85.25.

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.