Distillate Capital Partners LLC Purchases Shares of 218,121 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Distillate Capital Partners LLC acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 218,121 shares of the company's stock, valued at approximately $14,904,000. Distillate Capital Partners LLC owned about 0.18% of Fortune Brands Innovations at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Fortune Brands Innovations by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company's stock worth $59,094,000 after acquiring an additional 11,722 shares during the last quarter. Trust Point Inc. bought a new stake in Fortune Brands Innovations during the fourth quarter valued at about $319,000. Raymond James Financial Inc. bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $40,027,000. SG Americas Securities LLC grew its stake in shares of Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock valued at $2,292,000 after acquiring an additional 29,867 shares during the period. Finally, M&T Bank Corp increased its holdings in Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company's stock worth $1,612,000 after acquiring an additional 6,971 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was 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 in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristin Papesh acquired 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares of the company's stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company's stock.

Fortune Brands Innovations Stock Up 1.9 %

Shares of Fortune Brands Innovations stock traded up $0.94 during trading on Thursday, hitting $51.41. 1,433,281 shares of the stock traded hands, compared to its average volume of 1,393,021. 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 52-week low of $47.21 and a 52-week high of $90.54. The stock's fifty day simple moving average is $61.25 and its 200 day simple moving average is $71.86. The firm has a market cap of $6.23 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. On average, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FBIN shares. Royal Bank of Canada lowered their price target 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. The Goldman Sachs Group lowered 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. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price target for the company. UBS Group reduced their price objective on shares of 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. Finally, Barclays dropped their target price on shares of 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. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.