Steward Partners Investment Advisory LLC Raises Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Steward Partners Investment Advisory LLC lifted its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,105 shares of the company’s stock after buying an additional 311 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Fortune Brands Innovations were worth $144,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after acquiring an additional 121 shares during the period. Smithfield Trust Co raised its holdings in Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after purchasing an additional 133 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after purchasing an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FBIN. UBS Group decreased their price objective 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. Barclays reduced their price target on shares of 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 cut their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.64.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated 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 directly owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Price Performance

FBIN stock opened at $62.21 on Monday. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 52-week low of $59.64 and a 52-week high of $90.54. The stock’s fifty day simple moving average is $68.36 and its 200-day simple moving average is $76.06.

Fortune Brands Innovations (NYSE:FBIN) last issued 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 return on equity of 22.05% and a net margin of 10.24%. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current 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.