Swiss National Bank Sells 20,900 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Swiss National Bank trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 350,600 shares of the company's stock after selling 20,900 shares during the period. Swiss National Bank owned 0.28% of Fortune Brands Innovations worth $23,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company's stock worth $323,000 after buying an additional 121 shares during the period. Smithfield Trust Co lifted its stake in shares of Fortune Brands Innovations by 4.6% in the third quarter. Smithfield Trust Co now owns 3,031 shares of the company's stock worth $271,000 after acquiring an additional 133 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock valued at $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in Fortune Brands Innovations by 5.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock valued at $222,000 after purchasing an additional 156 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Fortune Brands Innovations by 11.2% during the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock worth $115,000 after purchasing an additional 170 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research firms have recently commented on FBIN. Royal Bank of Canada decreased their price target on shares of 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. The Goldman Sachs Group decreased 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 report on Tuesday, January 14th. Barclays cut their target price on shares of 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. Finally, UBS Group decreased 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $86.64.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction that occurred 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 $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Fortune Brands Innovations Stock Performance

FBIN stock traded down $0.53 during midday trading on Friday, reaching $62.48. The company had a trading volume of 3,462,379 shares, compared to its average volume of 1,255,993. The firm has a market capitalization of $7.66 billion, a PE ratio of 16.66, a P/E/G ratio of 2.00 and a beta of 1.53. The stock has a 50 day moving average price of $67.93 and a 200 day moving average price of $75.67. Fortune Brands Innovations, Inc. has a fifty-two week low of $59.64 and a fifty-two week 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.

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 (EPS) 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%. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share 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.