Trexquant Investment LP Invests $9.51 Million in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Trexquant Investment LP bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 139,185 shares of the company’s stock, valued at approximately $9,511,000. Trexquant Investment LP owned about 0.11% of Fortune Brands Innovations at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FBIN. Flagship Wealth Advisors LLC bought a new stake in Fortune Brands Innovations during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations during the 4th quarter valued at approximately $55,000. IFP Advisors Inc grew its holdings in 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 buying an additional 275 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Fortune Brands Innovations in the 4th quarter worth approximately $82,000. Finally, Blue Trust Inc. increased its position in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after buying an additional 219 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $61.62 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The stock’s fifty day simple moving average is $65.93 and its 200 day simple moving average is $74.58. Fortune Brands Innovations, Inc. has a one year low of $59.58 and a one year high of $90.54. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last posted 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 net margin of 10.24% and a return on equity of 22.05%. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research note on Tuesday. They issued a “hold” rating and a $70.00 price objective on the stock. UBS Group dropped their price objective on shares of 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 cut 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. 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. Finally, The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.25.

Insider Activity

In other news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 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 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.

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.