Gamco Investors INC. ET AL Has $12.81 Million Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Gamco Investors INC. ET AL reduced its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities & 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’s holdings in Fortune Brands Innovations were worth $12,814,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Fortune Brands Innovations during the fourth quarter worth about $101,122,000. Amundi boosted its stake in 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 acquiring an additional 1,442,195 shares during the last quarter. Wellington Management Group LLP grew its holdings in Fortune Brands Innovations by 63.0% during the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock valued at $196,153,000 after purchasing an additional 1,110,021 shares during the period. Clearbridge Investments LLC acquired a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $59,970,000. Finally, Raymond James Financial Inc. bought a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $40,027,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at $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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FBIN. Royal Bank of Canada reduced 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. Barclays decreased their target price on Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price target on the stock. UBS Group decreased 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. Finally, The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $84.33.

Fortune Brands Innovations Trading Down 0.1 %

Fortune Brands Innovations stock opened at $51.48 on Wednesday. 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 firm has a 50-day moving average of $61.60 and a 200-day moving average of $72.01. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly 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 analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share 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.