Skandinaviska Enskilda Banken AB publ Purchases 5,500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Skandinaviska Enskilda Banken AB publ increased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,218 shares of the company’s stock after purchasing an additional 5,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Fortune Brands Innovations were worth $2,064,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Fortune Brands Innovations in the third quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new position in Fortune Brands Innovations in the fourth quarter worth $55,000. IFP Advisors Inc lifted its position in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after purchasing an additional 275 shares during the period. Darwin Wealth Management LLC bought a new position in Fortune Brands Innovations in the third quarter worth $81,000. Finally, Blue Trust Inc. lifted its position in Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN opened at $62.21 on Monday. Fortune Brands Innovations, Inc. has a twelve month low of $59.64 and a twelve month high of $90.54. The firm has a market cap of $7.63 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The business has a fifty day moving average of $68.36 and a 200-day moving average of $76.06.

Fortune Brands Innovations (NYSE:FBIN) last announced 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%. On average, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the firm’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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares of the company’s stock, 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 company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on FBIN shares. Barclays dropped their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price objective on 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. Royal Bank of Canada dropped their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, UBS Group dropped their price objective 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $86.64.

About Fortune Brands Innovations

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.