BI Asset Management Fondsmaeglerselskab A S Takes $364,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,330 shares of the company's stock, valued at approximately $364,000.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Fortune Brands Innovations by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock valued at $131,481,000 after purchasing an additional 40,138 shares during the period. Commerce Bank increased its stake in shares of Fortune Brands Innovations by 1.2% during the fourth quarter. Commerce Bank now owns 27,974 shares of the company's stock valued at $1,911,000 after buying an additional 328 shares during the period. Farringdon Capital Ltd. bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $417,000. Marshall Wace LLP raised its holdings in shares of Fortune Brands Innovations by 33.6% during the fourth quarter. Marshall Wace LLP now owns 591,876 shares of the company's stock valued at $40,443,000 after acquiring an additional 148,946 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in Fortune Brands Innovations by 27.0% in the fourth quarter. Ceredex Value Advisors LLC now owns 186,750 shares of the company's stock worth $12,761,000 after acquiring an additional 39,650 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Kristin Papesh purchased 483 shares of the company's stock in a transaction dated 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 purchase, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $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 the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction on Monday, February 10th. The shares were 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 position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Fortune Brands Innovations Stock Down 0.1 %

Shares of FBIN traded down $0.06 on Wednesday, hitting $53.74. 1,250,507 shares of the stock traded hands, compared to its average volume of 1,398,874. The company has a market capitalization of $6.51 billion, a PE ratio of 14.33, a P/E/G ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. 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 business has a 50 day simple moving average of $58.15 and a 200 day simple moving average of $69.43.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its 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 return on equity of 22.05% and a net margin of 10.24%. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FBIN has been the subject of several research reports. 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 lowered their price objective on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. UBS Group reduced their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Royal Bank of Canada decreased their target price on 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $84.33.

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.