one8zero8 LLC Takes Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

one8zero8 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,052 shares of the company's stock, valued at approximately $277,000.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Fortune Brands Innovations during the third quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $55,000. IFP Advisors Inc raised its holdings in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after acquiring an additional 275 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations during the third quarter valued at approximately $81,000. Finally, Blue Trust Inc. increased its stake in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 87.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FBIN. Royal Bank of Canada decreased their target price 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. The Goldman Sachs Group reduced their price objective 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. Barclays cut their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Finally, 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 note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of "Hold" and an average target price of $86.64.

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Insider Activity

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $693,950.04. This trade represents 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 owned by company insiders.

Fortune Brands Innovations Stock Performance

FBIN stock traded down $0.49 during midday trading on Thursday, hitting $63.05. 2,171,605 shares of the company traded hands, compared to its average volume of 1,245,541. Fortune Brands Innovations, Inc. has a twelve month low of $59.64 and a twelve month high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The business has a 50 day simple moving average of $68.06 and a 200-day simple moving average of $75.76. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate 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, equities research analysts predict 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.