Alyeska Investment Group L.P. Sells 137,466 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Alyeska Investment Group L.P. lessened its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 12.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 970,702 shares of the company's stock after selling 137,466 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.78% of Fortune Brands Innovations worth $66,328,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FBIN. Wilmington Savings Fund Society FSB acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at about $229,000. Tidal Investments LLC lifted its stake in Fortune Brands Innovations by 10.9% in the third quarter. Tidal Investments LLC now owns 3,639 shares of the company's stock valued at $326,000 after buying an additional 359 shares during the period. Everence Capital Management Inc. bought a new position in shares of Fortune Brands Innovations during the 4th quarter worth approximately $280,000. Nordea Investment Management AB grew its position in shares of Fortune Brands Innovations by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company's stock worth $132,335,000 after buying an additional 35,289 shares during the period. Finally, Capital Investment Advisors LLC increased its stake in shares of Fortune Brands Innovations by 6.6% in the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company's stock valued at $208,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 87.60% of the company's stock.

Insiders Place Their Bets

In related news, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kristin Papesh bought 483 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was bought 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 owns 7,617 shares of the company's stock, 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. Insiders own 1.00% of the company's stock.

Fortune Brands Innovations Stock Down 1.0 %

Shares of FBIN traded down $0.53 during trading hours on Monday, reaching $54.28. 1,284,064 shares of the stock traded hands, compared to its average volume of 1,398,321. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 2.00 and a beta of 1.49. The stock has a fifty day simple moving average of $57.46 and a 200 day simple moving average of $68.41. 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 (NYSE:FBIN - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.98 EPS 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 forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price on the stock. The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. 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. Barclays cut their price target on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group decreased their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average target price of $84.33.

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.