Brandywine Global Investment Management LLC Has $4.86 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Brandywine Global Investment Management LLC cut its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,098 shares of the company’s stock after selling 5,450 shares during the period. Brandywine Global Investment Management LLC’s holdings in Fortune Brands Innovations were worth $4,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FBIN. Flagship Wealth Advisors LLC bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $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 in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $82,000. Finally, Blue Trust Inc. lifted 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 valued at $98,000 after acquiring an additional 219 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Kristin Papesh purchased 483 shares of the firm’s 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 purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction dated Monday, February 10th. The shares were 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 directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents 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 Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their target price 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. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research note on Tuesday. They issued a “hold” rating and a $70.00 target price on the stock. Barclays decreased their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. UBS Group cut 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 research report on Friday, February 7th. Finally, Royal Bank of Canada decreased 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $85.25.

Fortune Brands Innovations Trading Up 0.1 %

Shares of NYSE:FBIN opened at $60.91 on Wednesday. The company has a 50-day simple moving average of $66.16 and a 200 day simple moving average of $74.67. The company has a market capitalization of $7.47 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. 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 52-week low of $59.58 and a 52-week 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%. Sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

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.