Tower Research Capital LLC TRC Purchases 5,351 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tower Research Capital LLC TRC raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 179.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,336 shares of the company's stock after acquiring an additional 5,351 shares during the quarter. Tower Research Capital LLC TRC's holdings in Fortune Brands Innovations were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FBIN. Vanguard Group Inc. lifted its stake in Fortune Brands Innovations by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock valued at $821,840,000 after purchasing an additional 68,404 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Fortune Brands Innovations by 2.6% in the fourth quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company's stock valued at $303,792,000 after buying an additional 114,391 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Fortune Brands Innovations by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock worth $196,153,000 after acquiring an additional 1,110,021 shares during the period. Amundi increased its holdings in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock worth $157,953,000 after acquiring an additional 1,442,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Fortune Brands Innovations by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company's stock valued at $131,481,000 after acquiring an additional 40,138 shares during the period. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock traded up $1.51 during midday trading on Friday, hitting $54.82. 2,156,221 shares of the company traded hands, compared to its average volume of 1,399,628. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.00 and a beta of 1.42. 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 firm's fifty day moving average price is $57.69 and its 200-day moving average price is $68.95. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on FBIN shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective on the stock. The Goldman Sachs Group lowered their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. UBS Group reduced 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. Royal Bank of Canada lowered their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Finally, Barclays decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.33.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the firm'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 sale, the executive vice president now owns 10,066 shares of the company's stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kristin Papesh purchased 483 shares of the company's stock in a transaction 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 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 owned by corporate insiders.

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.