Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lifted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 17.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,105 shares of the company’s stock after acquiring an additional 311 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Fortune Brands Innovations were worth $144,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC grew its position in Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after acquiring an additional 3,024,950 shares in the last quarter. Arvest Bank Trust Division acquired a new position in shares of Fortune Brands Innovations in the third quarter valued at approximately $17,621,000. Prospector Partners LLC purchased a new stake in Fortune Brands Innovations during the 3rd quarter worth approximately $11,953,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Fortune Brands Innovations by 11.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after buying an additional 130,170 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Fortune Brands Innovations during the 3rd quarter worth approximately $11,114,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $62.21 on Monday. 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 firm’s 50 day moving average is $68.36 and its two-hundred day moving average is $76.06. The firm has a market capitalization of $7.63 billion, a P/E ratio of 16.59, a P/E/G ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last announced 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 return on equity of 22.05% and a net margin of 10.24%. Research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Insider Activity

In other Fortune Brands Innovations news, 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, for a total transaction 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 $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

FBIN has been the subject of several research reports. Barclays dropped their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. The Goldman Sachs Group cut their price target 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. Royal Bank of Canada decreased 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 note on Friday, February 7th. Finally, UBS Group cut 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 note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.64.

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.