Tocqueville Asset Management L.P. Buys 43,267 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tocqueville Asset Management L.P. grew its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 150.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,104 shares of the company's stock after acquiring an additional 43,267 shares during the period. Tocqueville Asset Management L.P. owned 0.06% of Fortune Brands Innovations worth $4,927,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. CIBC Asset Management Inc lifted its position in Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company's stock worth $323,000 after acquiring an additional 121 shares during the last quarter. Smithfield Trust Co boosted 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 valued at $271,000 after buying an additional 133 shares during the period. U.S. Capital Wealth Advisors LLC boosted its stake in shares of 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 buying an additional 138 shares during the period. Atria Wealth Solutions Inc. boosted its stake in shares of Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock valued at $222,000 after buying an additional 156 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock valued at $115,000 after buying an additional 170 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

FBIN has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. UBS Group cut 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. Royal Bank of Canada cut their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Finally, Barclays cut their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of "Hold" and an average price target of $86.64.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the 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 sale, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company's stock.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN traded down $0.53 during trading on Friday, hitting $62.48. 3,479,731 shares of the company were exchanged, compared to its average volume of 1,256,913. The business's 50 day moving average is $67.80 and its 200-day moving average is $75.55. The company has a market capitalization of $7.66 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. 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, Inc. has a 1-year low of $59.64 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly 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 return on equity of 22.05% and a net margin of 10.24%. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Profile

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.