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

Jump Financial LLC bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 28,430 shares of the company's stock, valued at approximately $1,943,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MML Investors Services LLC raised its holdings in shares of Fortune Brands Innovations by 7.7% in the third quarter. MML Investors Services LLC now owns 4,674 shares of the company's stock worth $418,000 after acquiring an additional 335 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth about $17,621,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Fortune Brands Innovations during the third quarter worth about $229,000. Tidal Investments LLC raised its position in shares of Fortune Brands Innovations by 10.9% in the third quarter. Tidal Investments LLC now owns 3,639 shares of the company's stock valued at $326,000 after buying an additional 359 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Fortune Brands Innovations by 0.5% during the third quarter. Retirement Systems of Alabama now owns 300,897 shares of the company's stock valued at $26,939,000 after buying an additional 1,622 shares during the period. Institutional investors and hedge funds own 87.60% of the company's stock.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares of the company's stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FBIN. The Goldman Sachs Group decreased their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of 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 lowered their price objective on shares of 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. UBS Group reduced their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, Barclays dropped their price target on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Fortune Brands Innovations presently has an average rating of "Hold" and an average target price of $84.33.

Fortune Brands Innovations Stock Up 2.9 %

Shares of FBIN traded up $1.46 during midday trading on Tuesday, hitting $51.40. The company had a trading volume of 1,575,562 shares, compared to its average volume of 1,398,161. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company's 50 day moving average price is $60.17 and its 200 day moving average price is $70.86. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

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

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.