Teca Partners LP Has $8.75 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Teca Partners LP cut its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 50.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,003 shares of the company's stock after selling 131,501 shares during the quarter. Fortune Brands Innovations makes up 5.6% of Teca Partners LP's holdings, making the stock its 9th biggest holding. Teca Partners LP owned approximately 0.10% of Fortune Brands Innovations worth $8,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farringdon Capital Ltd. acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $417,000. Marshall Wace LLP raised its stake in shares of Fortune Brands Innovations by 33.6% during the fourth quarter. Marshall Wace LLP now owns 591,876 shares of the company's stock valued at $40,443,000 after acquiring an additional 148,946 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of Fortune Brands Innovations by 27.0% during the fourth quarter. Ceredex Value Advisors LLC now owns 186,750 shares of the company's stock worth $12,761,000 after purchasing an additional 39,650 shares during the period. Jump Financial LLC bought a new position in Fortune Brands Innovations during the fourth quarter worth $1,943,000. Finally, Barclays PLC grew its holdings in Fortune Brands Innovations by 8.1% in the fourth quarter. Barclays PLC now owns 143,277 shares of the company's stock worth $9,789,000 after purchasing an additional 10,746 shares during the period. Institutional investors own 87.60% of the company's stock.

Insiders Place Their Bets

In other news, EVP Kristin Papesh acquired 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost 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 of the company's stock, valued at $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock traded up $1.45 on Tuesday, reaching $51.39. 417,065 shares of the company traded hands, compared to its average volume of 1,790,003. The company has a 50 day moving average of $60.17 and a 200 day moving average of $70.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The firm has a market capitalization of $6.23 billion, a PE ratio of 13.71, a PEG ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (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%. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of 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. The Goldman Sachs Group decreased their price objective on 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 Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. UBS Group lowered their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $84.33.

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.