Landscape Capital Management L.L.C. Lowers Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Landscape Capital Management L.L.C. trimmed its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 62.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,517 shares of the company's stock after selling 24,471 shares during the period. Landscape Capital Management L.L.C.'s holdings in Fortune Brands Innovations were worth $992,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FBIN. Verition Fund Management LLC boosted its stake in Fortune Brands Innovations by 166.1% during the third quarter. Verition Fund Management LLC now owns 10,608 shares of the company's stock valued at $950,000 after buying an additional 6,622 shares during the period. Benjamin Edwards Inc. purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at about $972,000. Investment Management Corp of Ontario purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at about $370,000. Point72 Asset Management L.P. bought a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $11,114,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Fortune Brands Innovations by 14.8% during the third quarter. Quantinno Capital Management LP now owns 34,309 shares of the company's stock worth $3,072,000 after purchasing an additional 4,426 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fortune Brands Innovations news, 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 $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the firm'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 sale, the executive vice president now directly owns 10,066 shares of the company's stock, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Remove Ads

Fortune Brands Innovations Trading Up 0.4 %

FBIN stock traded up $0.22 during trading on Friday, hitting $51.70. 3,610,461 shares of the company traded hands, compared to its average volume of 1,380,698. The company has a 50-day moving average of $62.31 and a 200-day moving average of $72.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. The firm has a market capitalization of $6.27 billion, a PE ratio of 13.79, a P/E/G ratio of 2.00 and a beta of 1.42.

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 net margin of 10.24% and a return on equity of 22.05%. Analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in 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 research note on Friday, February 7th. The Goldman Sachs Group dropped 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 report on Tuesday, January 14th. 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 report on Tuesday. Deutsche Bank Aktiengesellschaft started 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. Finally, UBS Group cut 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. Seven equities research 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, the company has an average rating of "Hold" and an average 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.