Farther Finance Advisors LLC Sells 189 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Farther Finance Advisors LLC reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,882 shares of the company’s stock after selling 189 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fortune Brands Innovations were worth $129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock valued at $59,094,000 after purchasing an additional 11,722 shares during the last quarter. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $319,000. Raymond James Financial Inc. acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $40,027,000. SG Americas Securities LLC grew its position in shares of Fortune Brands Innovations by 812.5% in the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after purchasing an additional 29,867 shares during the last quarter. Finally, M&T Bank Corp grew its position in shares of Fortune Brands Innovations by 41.9% in the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock valued at $1,612,000 after purchasing an additional 6,971 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 0.8 %

NYSE FBIN opened at $63.05 on Friday. 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 stock’s 50 day moving average is $67.93 and its two-hundred day moving average is $75.67. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 1-year low of $59.64 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share 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%. Equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kristin Papesh bought 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the purchase, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at $472,177.83. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FBIN shares. Barclays lowered their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group decreased their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. UBS Group decreased their target price on 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. Finally, Royal Bank of Canada decreased their target price on 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $86.64.

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.