Stratos Wealth Partners LTD. Takes $236,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Stratos Wealth Partners LTD. bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, HoldingsChannel reports. The fund bought 3,096 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Fortune Brands Innovations by 0.4% in the third quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock valued at $771,388,000 after acquiring an additional 50,047 shares in the last quarter. State Street Corp purchased a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $365,010,000. Federated Hermes Inc. boosted its holdings in Fortune Brands Innovations by 6.4% during the third quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock worth $127,162,000 after buying an additional 123,041 shares in the last quarter. Northern Trust Corp boosted its holdings in Fortune Brands Innovations by 15.7% during the third quarter. Northern Trust Corp now owns 1,654,531 shares of the company’s stock worth $102,846,000 after buying an additional 224,829 shares in the last quarter. Finally, FMR LLC boosted its holdings in Fortune Brands Innovations by 2.8% during the third quarter. FMR LLC now owns 1,525,640 shares of the company’s stock worth $94,834,000 after buying an additional 40,839 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $76.30 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. The stock has a market cap of $9.59 billion, a P/E ratio of 24.07, a PEG ratio of 2.21 and a beta of 1.57. The company has a 50-day moving average of $80.70 and a two-hundred day moving average of $73.22. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) 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 company 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 earnings per share. As a group, research analysts predict that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Ratings Changes

FBIN has been the topic of a number of research analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating on the stock. Finally, Barclays boosted their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.63.

Insider Activity

In other news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.99% of the company’s stock.

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.