Kennedy Capital Management LLC Cuts Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Kennedy Capital Management LLC cut its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 25.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,001 shares of the company's stock after selling 39,493 shares during the quarter. Kennedy Capital Management LLC owned 0.09% of Fortune Brands Innovations worth $7,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FBIN. Norges Bank acquired a new position in shares of Fortune Brands Innovations in the fourth quarter worth $101,122,000. Amundi grew its holdings in Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after purchasing an additional 1,442,195 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Fortune Brands Innovations by 63.0% during the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock worth $196,153,000 after buying an additional 1,110,021 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at about $59,970,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $40,027,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the 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 completion of the transaction, the executive vice president now directly owns 10,066 shares of the company's stock, valued at approximately $693,950.04. This represents 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 firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price 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 $472,177.83. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company's stock.

Fortune Brands Innovations Price Performance

Shares of FBIN stock traded down $0.50 during trading on Wednesday, hitting $51.00. The company had a trading volume of 591,904 shares, compared to its average volume of 1,387,790. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The company has a quick ratio of 0.65, a current ratio of 1.25 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 50-day moving average is $61.60 and its two-hundred day moving average is $72.01.

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, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reduced 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 research note on Tuesday, January 14th. Royal Bank of Canada cut their price objective 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. UBS Group decreased their target price on 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, Deutsche Bank Aktiengesellschaft assumed 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 on the stock. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $84.33.

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.