Fortune Brands Innovations, Inc. (NYSE:FBIN) Position Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,530 shares of the company’s stock after selling 1,570 shares during the quarter. Victory Capital Management Inc.’s holdings in Fortune Brands Innovations were worth $1,608,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after buying an additional 3,024,950 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after buying an additional 35,289 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after buying an additional 130,170 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Fortune Brands Innovations by 6.6% in the 4th quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after acquiring an additional 74,369 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Fortune Brands Innovations by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock worth $59,094,000 after acquiring an additional 11,722 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 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 approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FBIN. 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 report on Tuesday, January 14th. 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 dropped their price objective 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. Finally, Barclays dropped their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Stock Down 0.6 %

Fortune Brands Innovations stock opened at $63.24 on Wednesday. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.00 and a beta of 1.53. 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’s 50-day moving average price is $68.17 and its two-hundred day moving average price is $75.84. 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 quarterly earnings data 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%. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

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.