Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Position Lowered by Global Retirement Partners LLC

Global Retirement Partners LLC lessened its stake in Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,107 shares of the company’s stock after selling 627 shares during the quarter. Global Retirement Partners LLC’s holdings in Fortune Brands Innovations were worth $548,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FBIN. State Street Corp acquired a new position in Fortune Brands Innovations in the 2nd quarter valued at approximately $365,010,000. Holocene Advisors LP acquired a new position in Fortune Brands Innovations in the 2nd quarter valued at $193,486,000. Marshall Wace LLP acquired a new position in Fortune Brands Innovations in the 2nd quarter valued at $74,844,000. American Century Companies Inc. grew its stake in Fortune Brands Innovations by 1,439.7% in the 3rd quarter. American Century Companies Inc. now owns 665,475 shares of the company’s stock valued at $41,366,000 after buying an additional 622,253 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Fortune Brands Innovations by 62.8% in the 4th quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company’s stock valued at $105,888,000 after purchasing an additional 534,901 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $83.13 on Tuesday. The company has a 50-day moving average of $80.40 and a 200-day moving average of $72.07. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.82 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $84.92. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.89 and a current ratio of 1.70.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last announced its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. As a group, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating for the company. BMO Capital Markets reissued a “market perform” rating and issued a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. The Goldman Sachs Group increased their price target on shares of Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Barclays increased their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.63.

Check Out Our Latest Research Report on FBIN

Insider Buying and Selling

In related news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the sale, the director now owns 2,435 shares in the company, valued at approximately $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.99% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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