Kennedy Capital Management LLC Lowers Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Kennedy Capital Management LLC cut its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,001 shares of the company's stock after selling 39,493 shares during the period. Kennedy Capital Management LLC owned 0.09% of Fortune Brands Innovations worth $7,721,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in FBIN. Vanguard Group Inc. grew its position in shares of Fortune Brands Innovations by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock valued at $821,840,000 after acquiring an additional 68,404 shares during the period. JPMorgan Chase & Co. raised its stake in Fortune Brands Innovations by 2.6% in the fourth quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock valued at $303,792,000 after buying an additional 114,391 shares during the period. Wellington Management Group LLP lifted its position in shares of Fortune Brands Innovations by 63.0% in the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock valued at $196,153,000 after buying an additional 1,110,021 shares during the last quarter. Amundi boosted its stake in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock worth $157,953,000 after acquiring an additional 1,442,195 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Fortune Brands Innovations by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company's stock worth $132,335,000 after acquiring an additional 35,289 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays reduced their price objective 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, April 8th. Royal Bank of Canada reduced their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. UBS Group lowered their price target 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. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price for the company. Finally, The Goldman Sachs Group decreased their price objective 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $84.33.

Insiders Place Their Bets

In other news, EVP Kristin Papesh acquired 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought 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 in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Fortune Brands Innovations Price Performance

Shares of FBIN traded down $0.06 during trading hours on Tuesday, reaching $51.48. 2,078,481 shares of the stock traded hands, compared to its average volume of 1,389,051. 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 $6.24 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The company's 50-day moving average price is $61.95 and its two-hundred day moving average price is $72.15. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts' consensus estimates 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, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

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.