Bell Asset Management Ltd Grows Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Bell Asset Management Ltd raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 30.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,258 shares of the company’s stock after purchasing an additional 22,207 shares during the quarter. Bell Asset Management Ltd owned 0.08% of Fortune Brands Innovations worth $6,441,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FBIN. Flagship Wealth Advisors LLC bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Fortune Brands Innovations in the 4th quarter valued at about $55,000. IFP Advisors Inc increased its position in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after acquiring an additional 275 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $82,000. Finally, Blue Trust Inc. boosted its holdings in shares of Fortune Brands Innovations by 18.0% in 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 during the period. Institutional investors own 87.60% of the company’s stock.

Insider Activity at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares of the company’s stock, 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. 1.20% of the stock is currently owned by insiders.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $52.98 on Monday. Fortune Brands Innovations, Inc. has a 12-month low of $50.61 and a 12-month high of $90.54. The business’s fifty day simple moving average is $65.18 and its 200-day simple moving average is $74.08. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The company has a market cap of $6.42 billion, a PE ratio of 14.13, a PEG ratio of 2.00 and a beta of 1.42.

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 net margin of 10.24% and a return on equity of 22.05%. Analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FBIN has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their target price on 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 price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a 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 on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target for the company. Finally, The Goldman Sachs Group dropped their price objective on shares of 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $85.25.

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.