HighTower Advisors LLC Has $1.07 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

HighTower Advisors LLC grew its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 23.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,666 shares of the company’s stock after purchasing an additional 2,929 shares during the period. HighTower Advisors LLC’s holdings in Fortune Brands Innovations were worth $1,070,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. FMR LLC grew its stake in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after buying an additional 3,024,950 shares during the last quarter. Amundi grew its position in Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after acquiring an additional 1,442,195 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at $40,027,000. Arvest Bank Trust Division bought a new position in Fortune Brands Innovations in the 3rd quarter valued at $17,621,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Fortune Brands Innovations by 11.7% in 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 valued at $111,650,000 after purchasing an additional 130,170 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other Fortune Brands Innovations news, EVP Kristin Papesh acquired 483 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations 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 sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Down 0.9 %

Shares of Fortune Brands Innovations stock opened at $62.19 on Thursday. Fortune Brands Innovations, Inc. has a 1 year low of $59.64 and a 1 year 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. The company has a market capitalization of $7.62 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The business has a 50-day moving average of $67.22 and a two-hundred day moving average of $75.24.

Fortune Brands Innovations (NYSE:FBIN) last announced its 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%. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS 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.