Price T Rowe Associates Inc. MD Boosts Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Price T Rowe Associates Inc. MD boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 19.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 137,917 shares of the company's stock after purchasing an additional 22,443 shares during the period. Price T Rowe Associates Inc. MD owned about 0.11% of Fortune Brands Innovations worth $9,425,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pinebridge Investments L.P. grew its position in Fortune Brands Innovations by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 56,366 shares of the company's stock valued at $3,851,000 after buying an additional 16,871 shares during the period. Stifel Financial Corp boosted its stake in shares of Fortune Brands Innovations by 23.6% during the 4th quarter. Stifel Financial Corp now owns 10,256 shares of the company's stock worth $701,000 after acquiring an additional 1,960 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Fortune Brands Innovations by 179.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,336 shares of the company's stock valued at $570,000 after acquiring an additional 5,351 shares during the period. MetLife Investment Management LLC increased its stake in shares of Fortune Brands Innovations by 9.2% in the 4th quarter. MetLife Investment Management LLC now owns 70,007 shares of the company's stock worth $4,784,000 after purchasing an additional 5,879 shares in the last quarter. Finally, Ossiam raised its holdings in Fortune Brands Innovations by 222.4% in the 4th quarter. Ossiam now owns 15,409 shares of the company's stock worth $1,053,000 after purchasing an additional 10,629 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $54.82 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The business has a 50 day simple moving average of $57.69 and a two-hundred day simple moving average of $68.80. The stock has a market capitalization of $6.65 billion, a PE ratio of 14.62, a P/E/G ratio of 2.00 and a beta of 1.42.

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

Analyst Ratings Changes

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price target for the company. UBS Group decreased their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Barclays decreased their price objective on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada dropped their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Fortune Brands Innovations currently has an average rating of "Hold" and a consensus target price of $84.33.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

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.

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