Tower Research Capital LLC TRC Has $570,000 Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Tower Research Capital LLC TRC lifted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 179.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,336 shares of the company’s stock after buying an additional 5,351 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Fortune Brands Innovations were worth $570,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Arvest Bank Trust Division bought a new position in Fortune Brands Innovations in the 3rd quarter valued at about $17,621,000. Wilmington Savings Fund Society FSB acquired a new stake in Fortune Brands Innovations during the 3rd quarter worth approximately $229,000. Tidal Investments LLC boosted its position in Fortune Brands Innovations by 10.9% during the 3rd quarter. Tidal Investments LLC now owns 3,639 shares of the company’s stock worth $326,000 after buying an additional 359 shares during the period. Retirement Systems of Alabama lifted its position in shares of Fortune Brands Innovations by 0.5% in the 3rd quarter. Retirement Systems of Alabama now owns 300,897 shares of the company’s stock worth $26,939,000 after purchasing an additional 1,622 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at $280,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Trading Up 0.9 %

Fortune Brands Innovations stock opened at $54.02 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The business’s fifty day simple moving average is $58.64 and its two-hundred day simple moving average is $69.65. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) 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, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale 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 firm’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FBIN shares. The Goldman Sachs Group decreased 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. Royal Bank of Canada cut their price objective 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 began 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 on the stock. Barclays dropped their price target on shares of 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, UBS Group dropped their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock 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. According to MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus price target of $84.33.

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.