Trexquant Investment LP Takes $9.51 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Trexquant Investment LP acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 139,185 shares of the company's stock, valued at approximately $9,511,000. Trexquant Investment LP owned 0.11% of Fortune Brands Innovations at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in Fortune Brands Innovations in the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $55,000. IFP Advisors Inc increased its holdings in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after purchasing an additional 275 shares during the period. New Age Alpha Advisors LLC bought a new position in Fortune Brands Innovations during the 4th quarter worth $82,000. Finally, Blue Trust Inc. lifted its holdings in Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after buying an additional 219 shares during the period. Institutional investors own 87.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FBIN. 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. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Barclays decreased their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, February 7th. Finally, Royal Bank of Canada dropped their target price on 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. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of "Hold" and an average target price of $85.25.

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Fortune Brands Innovations Stock Performance

NYSE FBIN traded down $2.03 during trading hours on Monday, reaching $51.00. 1,520,506 shares of the company were exchanged, compared to its average volume of 1,325,404. 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 stock has a market capitalization of $6.18 billion, a P/E ratio of 13.54, a P/E/G ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a 1 year low of $50.25 and a 1 year high of $90.54. The business's 50 day simple moving average is $65.18 and its 200-day simple moving average is $74.08.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share 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%. On average, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction 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 completion of the sale, the executive vice president now owns 10,066 shares of the company's stock, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristin Papesh bought 483 shares of the firm's stock in a transaction 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 completion of the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company's stock.

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.