Marshall Wace LLP Acquires 148,946 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Marshall Wace LLP grew its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 33.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 591,876 shares of the company's stock after acquiring an additional 148,946 shares during the period. Marshall Wace LLP owned 0.48% of Fortune Brands Innovations worth $40,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FBIN. Flagship Wealth Advisors LLC bought a new position in Fortune Brands Innovations during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations in the 4th quarter worth approximately $55,000. IFP Advisors Inc boosted its position in Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after purchasing an additional 275 shares during the period. New Age Alpha Advisors LLC acquired a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $82,000. Finally, Blue Trust Inc. raised its position in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after purchasing an additional 219 shares during the period. Institutional investors own 87.60% of the company's stock.

Analysts Set New Price Targets

FBIN has been the topic of a number of research analyst reports. Barclays lowered their target price on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective on the stock. UBS Group decreased their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, 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 research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $84.33.

Insider Activity

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost 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 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.

Fortune Brands Innovations Price Performance

FBIN stock traded up $1.50 during trading on Wednesday, hitting $52.92. The company had a trading volume of 692,105 shares, compared to its average volume of 1,395,251. 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 fifty day moving average price of $59.83 and a two-hundred day moving average price of $70.72. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The company has a market cap of $6.42 billion, a P/E ratio of 14.11, 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 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%. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal 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.