Renaissance Technologies LLC Buys New Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Renaissance Technologies LLC acquired a new position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 80,100 shares of the company's stock, valued at approximately $5,473,000. Renaissance Technologies LLC owned 0.06% of Fortune Brands Innovations at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new position in Fortune Brands Innovations in the 4th quarter valued at $55,000. IFP Advisors Inc increased 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 worth $62,000 after purchasing an additional 275 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $82,000. Finally, Blue Trust Inc. lifted its position 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. Institutional investors own 87.60% of the company's stock.

Insider Activity at Fortune Brands Innovations

In related news, EVP Kristin Papesh acquired 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased 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 in the company, valued at $472,177.83. The trade was a 6.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction 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 $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Stock Down 1.8 %

Shares of Fortune Brands Innovations stock traded down $0.95 on Friday, reaching $53.14. The stock had a trading volume of 262,464 shares, compared to its average volume of 1,396,393. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. The company has a 50 day moving average price of $59.19 and a 200 day moving average price of $70.37. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.44 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.00 and a beta of 1.42.

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 (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, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FBIN. The Goldman Sachs Group decreased 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 report on Tuesday, January 14th. UBS Group decreased their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective on the stock. Royal Bank of Canada decreased their target price 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. Finally, Barclays dropped their price target on 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. 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.33.

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.