Trexquant Investment LP Acquires Shares of 139,185 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Trexquant Investment LP bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, Holdings Channel reports. The institutional investor bought 139,185 shares of the company’s stock, valued at approximately $9,511,000.

A number of other large investors also recently made changes to their positions in FBIN. Flagship Wealth Advisors LLC bought a new stake in Fortune Brands Innovations in the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $55,000. IFP Advisors Inc increased its stake in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after acquiring an additional 275 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $82,000. Finally, Blue Trust Inc. boosted its stake in Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after acquiring an additional 219 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Activity

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kristin Papesh acquired 483 shares of the stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction 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 $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group lowered 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. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research note on Tuesday. They set a “hold” rating and a $70.00 price objective on the stock. UBS Group decreased their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada dropped 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. Finally, Barclays decreased their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.25.

Fortune Brands Innovations Trading Up 1.1 %

NYSE:FBIN opened at $61.62 on Thursday. 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, Inc. has a twelve month low of $59.58 and a twelve month high of $90.54. The company has a market cap of $7.55 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The business has a 50 day moving average price of $65.93 and a two-hundred day moving average price of $74.58.

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 analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. As a group, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations 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.