Swiss National Bank Has $23.96 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Swiss National Bank cut its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 350,600 shares of the company’s stock after selling 20,900 shares during the period. Swiss National Bank’s holdings in Fortune Brands Innovations were worth $23,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FBIN. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations in the 4th quarter valued at approximately $55,000. IFP Advisors Inc boosted its position in Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after acquiring an additional 275 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Fortune Brands Innovations during the 3rd quarter worth approximately $81,000. Finally, Blue Trust Inc. raised 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 last quarter. Institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FBIN. Royal Bank of Canada reduced 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 report on Friday, February 7th. UBS Group reduced 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 note on Friday, February 7th. Barclays lowered their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price target 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $63.71 on Tuesday. The firm’s fifty day moving average price is $68.26 and its two-hundred day moving average price is $75.95. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The company has a market cap of $7.81 billion, a P/E ratio of 16.99, a P/E/G ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a one year low of $59.64 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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%. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kristin Papesh purchased 483 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

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.