Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Holdings Increased by Ossiam

Ossiam grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 222.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,409 shares of the company's stock after purchasing an additional 10,629 shares during the quarter. Ossiam's holdings in Fortune Brands Innovations were worth $1,053,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Fortune Brands Innovations by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company's stock worth $59,094,000 after purchasing an additional 11,722 shares during the period. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth $319,000. Raymond James Financial Inc. purchased a new position in shares of Fortune Brands Innovations in the 4th quarter worth $40,027,000. SG Americas Securities LLC boosted its holdings in Fortune Brands Innovations by 812.5% in the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock valued at $2,292,000 after acquiring an additional 29,867 shares during the last quarter. Finally, M&T Bank Corp grew its position in Fortune Brands Innovations by 41.9% during the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company's stock valued at $1,612,000 after acquiring an additional 6,971 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 related news, EVP Ron Wilson sold 1,500 shares of the 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 sale, the executive vice president now owns 10,066 shares of the company's stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristin Papesh acquired 483 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FBIN shares. 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 report on Friday, February 7th. Royal Bank of Canada dropped their target price on 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. Barclays reduced their price target on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. 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 report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $84.33.

Fortune Brands Innovations Stock Down 0.9 %

Shares of FBIN stock traded down $0.51 during trading hours on Friday, hitting $53.58. 870,583 shares of the company were exchanged, compared to its average volume of 1,398,737. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The business's 50-day simple moving average is $59.19 and its two-hundred day simple moving average is $70.37. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its 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%. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal 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.