3,460 Shares in Fortune Brands Innovations, Inc. (NYSE:FBIN) Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,460 shares of the company’s stock, valued at approximately $236,000.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations during the third quarter worth about $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $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 valued at $62,000 after acquiring an additional 275 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction 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 owns 10,066 shares of the company’s stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares of the company’s stock, valued at $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. 1.20% of the stock is owned by insiders.

Fortune Brands Innovations Price Performance

FBIN stock opened at $62.48 on Friday. The company has a market capitalization of $7.66 billion, a P/E ratio of 16.66, a PEG ratio of 2.00 and a beta of 1.53. The company has a fifty day moving average price of $67.80 and a 200-day moving average price of $75.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. Fortune Brands Innovations, Inc. has a 52-week low of $59.64 and a 52-week 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 the consensus estimate 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 analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Wall Street Analyst Weigh In

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

About Fortune Brands Innovations

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.