Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 36.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,110 shares of the company's stock after selling 139,717 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.19% of Fortune Brands Innovations worth $16,543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FBIN. Brooklyn Investment Group purchased a new stake in Fortune Brands Innovations during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Fortune Brands Innovations during the fourth quarter worth about $55,000. IFP Advisors Inc increased its holdings in Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after buying an additional 275 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Fortune Brands Innovations during the third quarter worth about $81,000. Finally, Blue Trust Inc. increased its holdings in Fortune Brands Innovations by 18.0% during the fourth 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 last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FBIN shares. 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 for the company in a research report on Friday, February 7th. UBS Group cut their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, Royal Bank of Canada cut their target price 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $86.64.

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Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Kristin Papesh bought 483 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired 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 directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations 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 sale, the executive vice president now owns 10,066 shares of the company's stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Fortune Brands Innovations Price Performance

Shares of FBIN stock traded up $2.15 during trading hours on Friday, reaching $62.21. The stock had a trading volume of 1,136,984 shares, compared to its average volume of 1,245,036. The stock's fifty day simple moving average is $68.36 and its 200 day simple moving average is $76.08. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month high of $90.54. The firm has a market capitalization of $7.63 billion, a PE ratio of 16.59, a PEG ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data 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 research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS 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.