one8zero8 LLC Invests $277,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

one8zero8 LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the fourth quarter, Holdings Channel.com reports. The fund bought 4,052 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new position in Fortune Brands Innovations in the fourth quarter valued at $55,000. IFP Advisors Inc raised its stake in Fortune Brands Innovations by 47.6% in 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 in the last quarter. Darwin Wealth Management LLC purchased a new stake in Fortune Brands Innovations during the 3rd quarter worth about $81,000. Finally, Blue Trust Inc. boosted its position in shares of Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristin Papesh bought 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of 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 position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FBIN. UBS Group cut their target price on 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. 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 research report on Friday, February 7th. Barclays dropped their target price on shares of 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 shares of 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $62.21 on Monday. 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 fifty-two week low of $59.64 and a fifty-two week high of $90.54. The firm has a 50-day simple moving average of $68.36 and a 200-day simple moving average of $76.06. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last announced its 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%. On average, equities research analysts anticipate 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.