Legal & General Group Plc Has $30.79 Million Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Legal & General Group Plc reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 450,590 shares of the company's stock after selling 195,382 shares during the period. Legal & General Group Plc owned approximately 0.36% of Fortune Brands Innovations worth $30,789,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FBIN. 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 in the last quarter. Trust Point Inc. purchased a new position in Fortune Brands Innovations during the 4th quarter worth approximately $319,000. Raymond James Financial Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at $40,027,000. SG Americas Securities LLC lifted its holdings in shares of Fortune Brands Innovations by 812.5% in the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock valued at $2,292,000 after purchasing an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Fortune Brands Innovations by 41.9% in the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company's stock valued at $1,612,000 after purchasing an additional 6,971 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. 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 research report on Friday, February 7th. 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 price target on the stock. Barclays reduced their price objective on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group lowered their target price on shares of 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $84.33.

Fortune Brands Innovations Stock Performance

NYSE:FBIN traded up $0.94 during mid-day trading on Friday, hitting $51.41. 1,433,281 shares of the company's stock traded hands, compared to its average volume of 1,394,874. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The firm has a 50 day moving average of $60.90 and a two-hundred day moving average of $71.60. 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 12 month low of $47.21 and a 12 month high of $90.54.

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

Insider Buying and Selling at Fortune Brands Innovations

In related 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 transaction, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kristin Papesh purchased 483 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

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.