Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 864,833 shares of the company’s stock after buying an additional 11,722 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.70% of Fortune Brands Innovations worth $59,094,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Fortune Brands Innovations by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after purchasing an additional 121 shares during the last quarter. Smithfield Trust Co increased its position in shares of Fortune Brands Innovations by 4.6% in the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after purchasing an additional 133 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of Fortune Brands Innovations by 1.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after purchasing an additional 156 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kristin Papesh acquired 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now directly 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $61.00 on Thursday. Fortune Brands Innovations, Inc. has a 52 week low of $60.42 and a 52 week high of $90.54. 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 stock has a market cap of $7.48 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The company has a 50-day moving average price of $68.63 and a two-hundred day moving average price of $76.35.

Fortune Brands Innovations (NYSE:FBIN) last posted 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%. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Analyst Upgrades and Downgrades

FBIN has been the subject of several research analyst reports. Royal Bank of Canada dropped their target price 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 dropped their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, UBS Group lowered their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Six research 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 has an average rating of “Hold” and an average 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.