Mitsubishi UFJ Trust & Banking Corp Has $10.01 Million Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,533 shares of the company’s stock after selling 857 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.12% of Fortune Brands Innovations worth $10,013,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cerity Partners LLC boosted its stake in Fortune Brands Innovations by 76.1% in the 3rd quarter. Cerity Partners LLC now owns 30,680 shares of the company’s stock worth $2,747,000 after purchasing an additional 13,263 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Fortune Brands Innovations by 9.1% during the third quarter. Daiwa Securities Group Inc. now owns 9,600 shares of the company’s stock valued at $859,000 after buying an additional 800 shares in the last quarter. FMR LLC raised its position in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after buying an additional 3,024,950 shares during the period. Brooklyn Investment Group acquired a new position in Fortune Brands Innovations during the third quarter valued at $25,000. Finally, BNP Paribas Financial Markets lifted its stake in Fortune Brands Innovations by 2.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 70,144 shares of the company’s stock worth $6,280,000 after acquiring an additional 1,379 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $60.84 on Friday. The firm has a market cap of $7.46 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The stock’s 50-day moving average is $66.71 and its two-hundred day moving average is $75.00. Fortune Brands Innovations, Inc. has a fifty-two week low of $59.64 and a fifty-two 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 posted its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays dropped their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada dropped 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 note on Friday, February 7th. UBS Group decreased their target price on shares of 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. Finally, The Goldman Sachs Group dropped their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.64.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the firm’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 completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

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.