Skandinaviska Enskilda Banken AB publ Buys 5,500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,218 shares of the company’s stock after buying an additional 5,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Fortune Brands Innovations were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBIN. FMR LLC lifted its holdings in shares of Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after purchasing an additional 3,024,950 shares in the last quarter. Amundi lifted its holdings in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after purchasing an additional 1,442,195 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at about $40,027,000. Arvest Bank Trust Division bought a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at about $17,621,000. Finally, Prospector Partners LLC bought a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at about $11,953,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 3.6 %

NYSE:FBIN opened at $62.21 on Monday. The firm 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, Inc. has a twelve month low of $59.64 and a twelve month high of $90.54. The stock’s 50 day moving average price is $68.36 and its two-hundred day moving average price is $76.06. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

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

Analyst Ratings Changes

FBIN has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada cut their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays dropped 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, UBS Group dropped 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. 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 a consensus target price of $86.64.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business’s 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 $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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.