Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 13.0% in the 4th quarter, HoldingsChannel reports. The firm owned 22,496 shares of the company’s stock after selling 3,347 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Fortune Brands Innovations were worth $1,537,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FBIN. Charles Schwab Investment Management Inc. grew its stake in Fortune Brands Innovations by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock worth $76,379,000 after purchasing an additional 4,248 shares in the last quarter. Cerity Partners LLC grew its position in shares of Fortune Brands Innovations by 76.1% during the third quarter. Cerity Partners LLC now owns 30,680 shares of the company’s stock worth $2,747,000 after buying an additional 13,263 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Fortune Brands Innovations by 9.1% in the third quarter. Daiwa Securities Group Inc. now owns 9,600 shares of the company’s stock valued at $859,000 after acquiring an additional 800 shares in the last quarter. FMR LLC lifted its stake in Fortune Brands Innovations by 104.5% in the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after acquiring an additional 3,024,950 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Fortune Brands Innovations by 0.6% during the 3rd quarter. D.A. Davidson & CO. now owns 82,874 shares of the company’s stock worth $7,420,000 after acquiring an additional 475 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $62.77 on Friday. The firm’s fifty day simple moving average is $66.98 and its 200-day simple moving average is $75.16. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month high of $90.54. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, February 6th. The company reported $0.98 EPS 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 forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. This 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 owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group decreased 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 report on Friday, February 7th. Barclays decreased their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group cut their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada lowered their price target on 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. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.64.

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.