Vulcan Value Partners LLC Acquires New Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Vulcan Value Partners LLC bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 151,894 shares of the company's stock, valued at approximately $10,379,000. Vulcan Value Partners LLC owned about 0.12% of Fortune Brands Innovations as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC boosted its position in Fortune Brands Innovations by 1.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock worth $556,000 after purchasing an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock worth $222,000 after buying an additional 156 shares in the last quarter. UMB Bank n.a. grew its position in Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock valued at $115,000 after buying an additional 170 shares during the period. Capital Investment Advisors LLC increased its holdings in Fortune Brands Innovations by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company's stock valued at $208,000 after buying an additional 190 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Fortune Brands Innovations by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company's stock worth $260,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 87.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FBIN. Barclays cut their price target on 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. 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 objective for the company. UBS Group dropped their price target 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. Royal Bank of Canada reduced their price objective on shares of 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, The Goldman Sachs Group dropped 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.com, Fortune Brands Innovations currently has a consensus rating of "Hold" and a consensus target price of $84.33.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the firm's 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 sale, the executive vice president now owns 10,066 shares of the company's stock, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristin Papesh purchased 483 shares of the 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 completion of the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN traded down $0.17 on Thursday, reaching $53.65. The company's stock had a trading volume of 932,271 shares, compared to its average volume of 1,749,283. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The stock has a market capitalization of $6.50 billion, a P/E ratio of 14.31, a PEG ratio of 2.00 and a beta of 1.42. The stock's 50-day moving average is $58.15 and its two-hundred day moving average is $69.43. 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 (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS 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%. As a group, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current 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.