Russell Investments Group Ltd. Sells 16,375 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Russell Investments Group Ltd. decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,302 shares of the company's stock after selling 16,375 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Fortune Brands Innovations worth $9,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in shares of Fortune Brands Innovations by 10.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 46,104 shares of the company's stock worth $3,150,000 after buying an additional 4,387 shares during the last quarter. Aviva PLC raised its stake in Fortune Brands Innovations by 885.8% during the fourth quarter. Aviva PLC now owns 249,160 shares of the company's stock valued at $17,025,000 after buying an additional 223,884 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fortune Brands Innovations during the 4th quarter worth approximately $1,094,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $2,551,000. Finally, Integrated Quantitative Investments LLC bought a new position in Fortune Brands Innovations during the fourth quarter worth $342,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada cut their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They set 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 for the company in a research report on Friday, February 7th. The Goldman Sachs Group lowered their target price on 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. Finally, 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 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 stock. Based on data from MarketBeat.com, Fortune Brands Innovations has a consensus rating of "Hold" and a consensus price target of $84.33.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded up $0.41 during mid-day trading on Thursday, hitting $50.88. The company's stock had a trading volume of 310,788 shares, compared to its average volume of 1,388,743. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average of $61.25 and a 200-day moving average of $71.86. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54.

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 (EPS) 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%. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

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.