Zurcher Kantonalbank Zurich Cantonalbank Has $16.54 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 36.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 242,110 shares of the company’s stock after selling 139,717 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.19% of Fortune Brands Innovations worth $16,543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $55,000. IFP Advisors Inc increased its holdings in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after purchasing an additional 275 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at about $81,000. Finally, Blue Trust Inc. increased its holdings in shares of Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Down 0.6 %

Shares of Fortune Brands Innovations stock opened at $61.00 on Thursday. The stock has a market capitalization of $7.48 billion, a P/E ratio of 16.27, a PEG ratio of 2.00 and a beta of 1.53. 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 50 day moving average price of $68.63 and a two-hundred day moving average price of $76.35. Fortune Brands Innovations, Inc. has a 12-month low of $60.42 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its 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%. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group dropped their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada dropped their target price on 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. The Goldman Sachs Group dropped their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays dropped their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $86.64.

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.