Corient Private Wealth LLC Has $1.28 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Corient Private Wealth LLC decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 24.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,709 shares of the company’s stock after selling 6,059 shares during the period. Corient Private Wealth LLC’s holdings in Fortune Brands Innovations were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FBIN. Brooklyn Investment Group acquired a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Fortune Brands Innovations during the 4th quarter worth $55,000. IFP Advisors Inc boosted its stake in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after buying an additional 275 shares in the last quarter. Blue Trust Inc. grew its position in Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after acquiring an additional 219 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in Fortune Brands Innovations during the fourth quarter worth about $100,000. 87.60% of the stock is owned by institutional investors.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FBIN shares. Royal Bank of Canada decreased their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays cut their target price on shares of 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. UBS Group lowered their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price objective 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $86.64.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $62.67 on Wednesday. The business has a 50-day moving average of $67.46 and a 200-day moving average of $75.33. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth 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 results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share 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.