Vulcan Value Partners LLC Invests $10.38 Million in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Vulcan Value Partners LLC acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 151,894 shares of the company's stock, valued at approximately $10,379,000. Vulcan Value Partners LLC owned 0.12% of Fortune Brands Innovations as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in Fortune Brands Innovations during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations during the fourth quarter worth approximately $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 worth $62,000 after purchasing an additional 275 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Fortune Brands Innovations in the fourth quarter valued at approximately $82,000. Finally, Blue Trust Inc. boosted its holdings in shares of 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 in the last quarter. Institutional investors own 87.60% of the company's stock.

Analysts Set New Price Targets

FBIN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price on the stock. The Goldman Sachs Group cut 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 research report on Tuesday, January 14th. Barclays decreased their target price on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada cut their price target 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. Finally, UBS Group decreased their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of "Hold" and an average target price of $84.33.

Insider Buying and Selling

In other news, EVP Kristin Papesh bought 483 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost 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 $472,177.83. This represents a 6.77 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president now owns 10,066 shares of the company's stock, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Fortune Brands Innovations Trading Down 0.9 %

NYSE:FBIN opened at $53.58 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The firm has a 50-day moving average price of $58.90 and a two-hundred day moving average price of $70.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42.

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

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