JPMorgan Chase & Co. Grows Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

JPMorgan Chase & Co. raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,445,959 shares of the company's stock after acquiring an additional 114,391 shares during the period. JPMorgan Chase & Co. owned approximately 3.58% of Fortune Brands Innovations worth $303,792,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position 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 buying an additional 11,722 shares during the last quarter. Trust Point Inc. bought a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $319,000. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at approximately $40,027,000. SG Americas Securities LLC boosted 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 buying an additional 29,867 shares during the period. Finally, M&T Bank Corp grew its stake 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 valued at $1,612,000 after buying an additional 6,971 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Ron Wilson sold 1,500 shares of the company'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 completion of the sale, the executive vice president now owns 10,066 shares of the company's stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristin Papesh bought 483 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, with a total value 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. 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 owned by insiders.

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Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN traded down $2.02 during midday trading on Friday, reaching $52.98. 3,720,161 shares of the company were exchanged, compared to its average volume of 1,321,834. The business's fifty day moving average is $65.18 and its two-hundred day moving average is $74.23. Fortune Brands Innovations, Inc. has a one year low of $50.66 and a one year high of $90.54. The stock has a market cap of $6.49 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. 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 (NYSE:FBIN - Get Free Report) last released its quarterly earnings results 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%. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FBIN. 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. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research note on Tuesday. They set a "hold" rating and a $70.00 target price on the stock. 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 report on Friday, February 7th. UBS Group cut their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Barclays lowered their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $85.25.

Fortune Brands Innovations 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.