Prospector Partners LLC Purchases 450 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Prospector Partners LLC boosted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 133,958 shares of the company’s stock after buying an additional 450 shares during the quarter. Prospector Partners LLC’s holdings in Fortune Brands Innovations were worth $9,153,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FBIN. Charles Schwab Investment Management Inc. grew its position in Fortune Brands Innovations by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock worth $59,094,000 after purchasing an additional 11,722 shares during the period. Trust Point Inc. purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter worth approximately $319,000. Raymond James Financial Inc. purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $40,027,000. SG Americas Securities LLC lifted its position in Fortune Brands Innovations by 812.5% during the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock worth $2,292,000 after buying an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp increased its stake in shares of Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock worth $1,612,000 after acquiring an additional 6,971 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FBIN. Barclays cut their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada lowered their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 target price for the company. 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. Finally, 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 note on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $85.25.

Fortune Brands Innovations Price Performance

FBIN opened at $52.98 on Friday. The company has a market capitalization of $6.42 billion, a P/E ratio of 14.13, a PEG ratio of 2.00 and a beta of 1.42. The company has a 50-day moving average of $65.18 and a 200-day moving average of $74.15. 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 1-year low of $50.61 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results 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 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 EPS for the current fiscal year.

Insider Activity at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations 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 of the company’s stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kristin Papesh bought 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares in the company, 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. Insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Company 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.