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

Brandywine Global Investment Management LLC trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,098 shares of the company’s stock after selling 5,450 shares during the period. Brandywine Global Investment Management LLC owned about 0.06% of Fortune Brands Innovations worth $4,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. U.S. Capital Wealth Advisors LLC increased its stake in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after acquiring an additional 138 shares during the period. Atria Wealth Solutions Inc. increased its position in shares of Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares during the period. UMB Bank n.a. raised its stake in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after purchasing an additional 170 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in Fortune Brands Innovations by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after buying an additional 190 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Fortune Brands Innovations by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock valued at $260,000 after buying an additional 201 shares during the period. Institutional investors own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was 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 owns 7,617 shares of the company’s stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $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 Trading Up 0.1 %

FBIN opened at $60.91 on Wednesday. Fortune Brands Innovations, Inc. has a 1-year low of $59.58 and a 1-year high of $90.54. The stock has a market capitalization of $7.47 billion, a PE ratio of 16.24, 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 firm has a 50-day moving average price of $66.16 and a two-hundred day moving average price of $74.67.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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%. As a group, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FBIN. Royal Bank of Canada reduced 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 report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a report on Tuesday. They set a “hold” rating and a $70.00 price objective on the stock. The Goldman Sachs Group cut their target price on 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. Barclays decreased their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Finally, UBS Group dropped their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average price target of $85.25.

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.