Fortune Brands Innovations, Inc. (NYSE:FBIN) Stake Boosted by American Century Companies Inc.

American Century Companies Inc. increased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,026,291 shares of the company’s stock after purchasing an additional 19,226 shares during the period. American Century Companies Inc.’s holdings in Fortune Brands Innovations were worth $70,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FBIN. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations in the third quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new position in Fortune Brands Innovations in the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $55,000. IFP Advisors Inc raised its holdings 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 valued at $62,000 after buying an additional 275 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after buying an additional 219 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 1.8 %

FBIN stock opened at $62.67 on Wednesday. The firm has a market cap of $7.68 billion, a PE ratio of 16.71, a P/E/G ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month high of $90.54. 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 firm has a 50 day simple moving average of $67.46 and a 200 day simple moving average of $75.33.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data 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 return on equity of 22.05% and a net margin of 10.24%. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada cut their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Barclays decreased 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. UBS Group dropped their price target 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, The Goldman Sachs Group decreased their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus price target of $86.64.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kristin Papesh bought 483 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost 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 disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

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.