Jump Financial LLC Invests $1.94 Million in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Jump Financial LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,430 shares of the company's stock, valued at approximately $1,943,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $55,000. IFP Advisors Inc lifted its stake in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after buying an additional 275 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $82,000. Finally, Blue Trust Inc. raised its stake in shares of Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on FBIN. The Goldman Sachs Group cut their price target 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. UBS Group dropped their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price for the company. Royal Bank of Canada cut their price objective on shares of 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, Barclays dropped their price target 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $84.33.

Insider Activity 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 on 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 owns 10,066 shares of the company's stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The stock was acquired 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 owns 7,617 shares of the company's stock, valued at approximately $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Fortune Brands Innovations Stock Up 2.4 %

Shares of NYSE FBIN traded up $1.25 during mid-day trading on Thursday, reaching $53.37. 217,445 shares of the company traded hands, compared to its average volume of 1,394,289. The company's fifty day moving average is $59.49 and its two-hundred day moving average is $70.59. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The stock has a market cap of $6.47 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.24% and a return on equity of 22.05%. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Company 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.