Gabelli Funds LLC Sells 800 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Gabelli Funds LLC lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 156,400 shares of the company’s stock after selling 800 shares during the quarter. Gabelli Funds LLC’s holdings in Fortune Brands Innovations were worth $10,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Jump Financial LLC bought a new position in Fortune Brands Innovations during the 4th quarter worth $1,943,000. Barclays PLC increased its position in Fortune Brands Innovations by 8.1% during the fourth quarter. Barclays PLC now owns 143,277 shares of the company’s stock worth $9,789,000 after acquiring an additional 10,746 shares during the period. Giverny Capital Inc. raised its stake in Fortune Brands Innovations by 3.8% in the 4th quarter. Giverny Capital Inc. now owns 463,140 shares of the company’s stock worth $31,646,000 after purchasing an additional 17,034 shares in the last quarter. Seeds Investor LLC boosted its holdings in Fortune Brands Innovations by 30.1% in the 4th quarter. Seeds Investor LLC now owns 3,165 shares of the company’s stock valued at $216,000 after purchasing an additional 733 shares during the period. Finally, Distillate Capital Partners LLC acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth approximately $14,904,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 cost of $61.99 per share, with a total value of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This trade 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 insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FBIN. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target for the company. UBS Group cut their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada decreased their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group cut 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. Finally, Barclays decreased their target price on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus price target of $84.33.

Fortune Brands Innovations Price Performance

FBIN stock opened at $50.54 on Thursday. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. 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 $6.13 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 2.00 and a beta of 1.42. The company has a 50 day simple moving average of $61.25 and a 200 day simple moving average of $71.86.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data 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%. Research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

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.