16,336 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Bought by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,336 shares of the company’s stock, valued at approximately $1,116,000.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Fortune Brands Innovations during the third quarter worth $25,000. Flagship Wealth Advisors LLC purchased a new position in Fortune Brands Innovations in the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter worth about $55,000. IFP Advisors Inc grew its stake in Fortune Brands Innovations by 47.6% during the 4th 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 last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. This represents a 6.77 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business’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 value 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. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $62.67 on Wednesday. The stock has a market capitalization of $7.68 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 52 week low of $59.64 and a 52 week high of $90.54. 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’s 50-day moving average price is $67.46 and its 200-day moving average price is $75.33.

Fortune Brands Innovations (NYSE:FBIN) last posted 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%. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on 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. Royal Bank of Canada dropped 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 report on Friday, February 7th. UBS Group reduced 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 report on Friday, February 7th. Finally, Barclays lowered their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus target price of $86.64.

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.