Atria Investments Inc Sells 1,466 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Atria Investments Inc lessened its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 17.1% in the fourth quarter, HoldingsChannel.com reports. 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 Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of FBIN. Charles Schwab Investment Management Inc. lifted its stake in shares of Fortune Brands Innovations by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock worth $59,094,000 after buying an additional 11,722 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Fortune Brands Innovations by 17.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,105 shares of the company’s stock worth $144,000 after buying an additional 311 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth about $3,957,000. Impax Asset Management Group plc lifted its stake in shares of Fortune Brands Innovations by 32.7% during the 4th quarter. Impax Asset Management Group plc now owns 17,780 shares of the company’s stock worth $1,215,000 after buying an additional 4,380 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after buying an additional 275 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, 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 value of $103,410.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction 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 position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Trading Up 3.6 %

Shares of Fortune Brands Innovations stock opened at $62.21 on Friday. The firm has a market capitalization of $7.63 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm’s 50 day moving average is $68.36 and its 200 day moving average is $76.08. 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 announced 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 net margin of 10.24% and a return on equity of 22.05%. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada dropped 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 note on Friday, February 7th. Barclays dropped their price objective 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. Finally, UBS Group dropped their price objective on shares of 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently 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.