Jones Financial Companies Lllp Trims Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Jones Financial Companies Lllp trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 11.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,821 shares of the company’s stock after selling 375 shares during the period. Jones Financial Companies Lllp’s holdings in Fortune Brands Innovations were worth $193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth about $55,000. IFP Advisors Inc increased its stake in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after acquiring an additional 275 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Fortune Brands Innovations during the third quarter worth about $81,000. Finally, Blue Trust Inc. increased its stake in shares of Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after acquiring an additional 219 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 1.6 %

FBIN stock opened at $60.03 on Friday. The company’s 50 day simple moving average is $68.63 and its 200-day simple moving average is $76.35. The firm has a market capitalization of $7.36 billion, a PE ratio of 16.01, a P/E/G ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate 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 expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. UBS Group lowered their target price 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. The Goldman Sachs Group lowered their target price on shares of 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. Barclays lowered 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. Finally, Royal Bank of Canada lowered their target price on shares of 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $86.64.

Insider Activity at Fortune Brands Innovations

In other news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This represents a 6.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Company 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.