Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,302 shares of the company's stock after selling 16,375 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Fortune Brands Innovations worth $9,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $101,122,000. Amundi grew its position in Fortune Brands Innovations by 166.8% in the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after acquiring an additional 1,442,195 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 worth $196,153,000 after purchasing an additional 1,110,021 shares during the period. Clearbridge Investments LLC purchased a new stake in Fortune Brands Innovations in the 4th quarter valued at about $59,970,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Fortune Brands Innovations during the fourth quarter worth approximately $40,027,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on FBIN. The Goldman Sachs Group dropped their price objective on 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. Barclays dropped 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. UBS Group decreased their price objective 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 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. Finally, Deutsche Bank Aktiengesellschaft began 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $84.33.

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Insiders Place Their Bets

In related news, 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 owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kristin Papesh purchased 483 shares of the company'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 owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company's stock.

Fortune Brands Innovations Stock Down 0.1 %

Shares of NYSE FBIN traded down $0.06 during trading hours on Tuesday, hitting $51.48. 2,078,481 shares of the stock were exchanged, compared to its average volume of 1,389,051. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The firm has a fifty day moving average price of $61.95 and a 200-day moving average price of $72.15. 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 company has a market cap 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 issued its quarterly earnings data 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%. On average, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current 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.