Russell Investments Group Ltd. Sells 7,411 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Russell Investments Group Ltd. lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 174,812 shares of the company’s stock after selling 7,411 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fortune Brands Innovations were worth $13,315,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Addison Advisors LLC increased its stake in Fortune Brands Innovations by 38.7% during the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares in the last quarter. Tributary Capital Management LLC raised its stake in Fortune Brands Innovations by 1.9% in the 4th quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock worth $659,000 after acquiring an additional 164 shares during the last quarter. Everhart Financial Group Inc. lifted its position in Fortune Brands Innovations by 4.6% during the 4th quarter. Everhart Financial Group Inc. now owns 4,076 shares of the company’s stock worth $310,000 after acquiring an additional 178 shares during the period. Signaturefd LLC grew its stake in Fortune Brands Innovations by 10.7% during the 3rd quarter. Signaturefd LLC now owns 1,937 shares of the company’s stock valued at $120,000 after purchasing an additional 187 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Fortune Brands Innovations by 23.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $78,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Stock Up 2.4 %

Fortune Brands Innovations stock opened at $73.15 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $84.92. The stock has a market capitalization of $9.15 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.97 and a beta of 1.58. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.04 and a quick ratio of 0.89. The business has a 50 day simple moving average of $79.00 and a 200-day simple moving average of $74.30.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FBIN shares. Barclays lifted their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating on the stock. Robert W. Baird raised their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Finally, Evercore ISI dropped their target price on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $79.22.

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.