Swiss National Bank Sells 20,900 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Swiss National Bank decreased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,600 shares of the company’s stock after selling 20,900 shares during the quarter. Swiss National Bank owned approximately 0.28% of Fortune Brands Innovations worth $23,956,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FBIN. FMR LLC boosted its stake in shares of Fortune Brands Innovations by 104.5% in 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 boosted its position in Fortune Brands Innovations by 166.8% in the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after buying an additional 1,442,195 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Fortune Brands Innovations during the fourth quarter worth about $40,027,000. Arvest Bank Trust Division acquired a new stake in shares of Fortune Brands Innovations during the third quarter worth approximately $17,621,000. Finally, Prospector Partners LLC bought a new position in shares of Fortune Brands Innovations in the third quarter valued at approximately $11,953,000. 87.60% of the stock is currently owned by institutional investors.

Insider Activity at Fortune Brands Innovations

In other news, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction 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 directly owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $63.71 on Tuesday. Fortune Brands Innovations, Inc. has a twelve month low of $59.64 and a twelve month high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The company has a market cap of $7.81 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The business’s fifty day moving average is $68.26 and its 200-day moving average is $75.95.

Fortune Brands Innovations (NYSE:FBIN) last released 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%. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Wall Street Analysts Forecast Growth

FBIN has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped 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. Barclays cut 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. UBS Group decreased their price objective 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. Finally, The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.