American Century Companies Inc. Increases Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

American Century Companies Inc. boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,026,291 shares of the company’s stock after acquiring an additional 19,226 shares during the period. American Century Companies Inc. owned about 0.83% of Fortune Brands Innovations worth $70,127,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock worth $59,094,000 after acquiring an additional 11,722 shares during the last quarter. Trust Point Inc. acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $319,000. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at $40,027,000. SG Americas Securities LLC increased its holdings in shares of Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock worth $2,292,000 after buying an additional 29,867 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock worth $1,612,000 after buying an additional 6,971 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $62.67 on Wednesday. The firm has a 50-day moving average of $67.46 and a two-hundred day moving average of $75.33. 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 stock has a market cap of $7.68 billion, a P/E ratio of 16.71, a PEG ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 1-year low of $59.64 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data 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%. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kristin Papesh acquired 483 shares of the stock in a transaction that occurred 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 completion of the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the 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 transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

FBIN has been the subject of several research analyst reports. Barclays dropped their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. UBS Group cut 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 report on Friday, February 7th. Royal Bank of Canada decreased 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 note on Friday, February 7th. Finally, The Goldman Sachs Group dropped 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 research report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.64.

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.