Atria Investments Inc Has $486,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Atria Investments Inc lowered its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 17.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,114 shares of the company’s stock after selling 1,466 shares during the period. Atria Investments Inc’s holdings in Fortune Brands Innovations were worth $486,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FBIN. CIBC Asset Management Inc increased its stake in Fortune Brands Innovations by 3.5% in the third 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 increased its stake in Fortune Brands Innovations by 4.6% in the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock valued at $271,000 after acquiring an additional 133 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after acquiring an additional 138 shares during the period. Atria Wealth Solutions Inc. increased its stake 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 acquiring an additional 156 shares during the period. Finally, UMB Bank n.a. increased its stake in 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 acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank of Canada decreased their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group decreased their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Barclays decreased 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 research note on Friday, February 7th. Finally, UBS Group decreased their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Stock Up 3.6 %

Shares of FBIN stock opened at $62.21 on Friday. The firm has a fifty day moving average of $68.36 and a 200-day moving average of $76.08. 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 12-month low of $59.64 and a 12-month high of $90.54. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data 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 predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

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.