Sei Investments Co. Has $5.49 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Sei Investments Co. raised its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 26.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,391 shares of the company's stock after purchasing an additional 17,041 shares during the period. Sei Investments Co. owned 0.06% of Fortune Brands Innovations worth $5,491,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Amundi boosted its stake in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock worth $157,953,000 after acquiring an additional 1,442,195 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Fortune Brands Innovations during the fourth quarter worth approximately $40,027,000. Arvest Bank Trust Division acquired a new position in Fortune Brands Innovations during the third quarter valued at approximately $17,621,000. Point72 Asset Management L.P. acquired a new position in Fortune Brands Innovations during the third quarter valued at approximately $11,114,000. Finally, Ninety One UK Ltd raised its position in shares of Fortune Brands Innovations by 6.6% in the fourth quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company's stock valued at $82,398,000 after purchasing an additional 74,369 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Kristin Papesh bought 483 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ron Wilson sold 1,500 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

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Analyst Ratings Changes

FBIN has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their target price on shares of 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. UBS Group lowered their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Barclays dropped their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price for the company. Finally, Royal Bank of Canada dropped their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Fortune Brands Innovations presently has an average rating of "Hold" and a consensus price target of $85.25.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN traded down $2.02 during midday trading on Friday, reaching $52.98. 3,720,161 shares of the company's stock were exchanged, compared to its average volume of 1,324,313. The firm has a market capitalization of $6.42 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The company's 50 day simple moving average is $65.18 and its two-hundred day simple moving average is $74.08. Fortune Brands Innovations, Inc. has a 12 month low of $50.61 and a 12 month high of $90.54. 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 quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share 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%. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share 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.