Gamco Investors INC. ET AL Sells 4,120 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Gamco Investors INC. ET AL lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,524 shares of the company’s stock after selling 4,120 shares during the period. Gamco Investors INC. ET AL owned 0.15% of Fortune Brands Innovations worth $12,814,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FBIN. Norges Bank acquired a new position in Fortune Brands Innovations during the 4th quarter worth $101,122,000. Amundi lifted its position 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 worth $157,953,000 after purchasing an additional 1,442,195 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Fortune Brands Innovations by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock worth $196,153,000 after purchasing an additional 1,110,021 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Fortune Brands Innovations during the 4th quarter valued at approximately $59,970,000. Finally, Raymond James Financial Inc. acquired a new stake in Fortune Brands Innovations in the 4th quarter valued at approximately $40,027,000. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FBIN shares. UBS Group reduced their price objective 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 shares of 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price objective for the company. Barclays decreased their target price on Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $84.33.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $51.48 on Wednesday. The firm has a market capitalization of $6.24 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.00 and a beta of 1.42. The stock has a fifty day moving average price of $61.60 and a two-hundred day moving average price of $72.01. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week 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.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. As a group, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Insider Activity

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristin Papesh bought 483 shares of the stock in a transaction dated 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 purchase, the executive vice president now directly owns 7,617 shares in the company, 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 corporate insiders.

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.