Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 450,590 shares of the company's stock after selling 195,382 shares during the period. Legal & General Group Plc owned about 0.36% of Fortune Brands Innovations worth $30,789,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $101,122,000. Amundi boosted its holdings in shares of Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company's stock worth $157,953,000 after purchasing an additional 1,442,195 shares during the last quarter. Wellington Management Group LLP grew 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 purchasing an additional 1,110,021 shares during the period. Clearbridge Investments LLC acquired a new position in Fortune Brands Innovations in the fourth quarter valued at $59,970,000. Finally, Raymond James Financial Inc. purchased a new position in Fortune Brands Innovations during the fourth quarter worth about $40,027,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated 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 in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristin Papesh acquired 483 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now directly owns 7,617 shares of the company's stock, valued at $472,177.83. This 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 currently owned by insiders.

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Fortune Brands Innovations Stock Down 0.1 %

Shares of NYSE:FBIN traded down $0.06 during trading on Tuesday, hitting $51.48. The company's stock had a trading volume of 2,078,481 shares, compared to its average volume of 1,390,717. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The stock's 50-day moving average price is $61.60 and its two-hundred day moving average price is $72.01. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The company has a market capitalization of $6.24 billion, a PE ratio of 13.73, a PEG ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its 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, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Wall Street Analysts Forecast Growth

FBIN has been the topic of several recent analyst reports. 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 report on Friday, February 7th. The Goldman Sachs Group lowered 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 research note on Tuesday, January 14th. UBS Group lowered their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective on the stock. Finally, Barclays cut their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.