Barclays PLC Boosts Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Barclays PLC increased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,277 shares of the company's stock after purchasing an additional 10,746 shares during the quarter. Barclays PLC owned approximately 0.12% of Fortune Brands Innovations worth $9,789,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FBIN. Norges Bank bought a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $101,122,000. Amundi boosted its position in shares of Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after buying an additional 1,442,195 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Fortune Brands Innovations by 63.0% during the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock valued at $196,153,000 after buying an additional 1,110,021 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $59,970,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $40,027,000. Institutional investors own 87.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FBIN shares. UBS Group cut their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada cut their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group cut their price objective 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. Barclays cut their price objective on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average price target of $84.33.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN traded up $0.46 during midday trading on Monday, reaching $54.02. 1,200,153 shares of the company traded hands, compared to its average volume of 1,399,492. 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 12 month low of $47.21 and a 12 month high of $90.54. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The firm's fifty day moving average price is $58.64 and its two-hundred day moving average price is $69.65.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (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 year.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction dated 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 directly owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. 1.00% of the stock is currently owned by corporate insiders.

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.