Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,882 shares of the company’s stock after selling 189 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fortune Brands Innovations were worth $129,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in Fortune Brands Innovations by 23.0% during the 4th quarter. HighTower Advisors LLC now owns 15,666 shares of the company’s stock valued at $1,070,000 after purchasing an additional 2,929 shares in the last quarter. First Pacific Advisors LP boosted its stake in shares of Fortune Brands Innovations by 0.6% during the 4th quarter. First Pacific Advisors LP now owns 247,018 shares of the company’s stock worth $16,879,000 after acquiring an additional 1,377 shares in the last quarter. Amundi boosted its stake in shares of 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 in the last quarter. Andra AP fonden boosted its stake in shares of Fortune Brands Innovations by 113.6% during the 4th quarter. Andra AP fonden now owns 84,600 shares of the company’s stock worth $5,781,000 after acquiring an additional 45,000 shares in the last quarter. Finally, Inceptionr LLC bought a new stake in shares of Fortune Brands Innovations during the 4th quarter worth $1,500,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was 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. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristin Papesh bought 483 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $63.05 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 1 year low of $59.64 and a 1 year high of $90.54. The business has a fifty day simple moving average of $67.93 and a 200 day simple moving average of $75.67. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last announced 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, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group reduced their price objective 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 reduced 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. The Goldman Sachs Group reduced their price objective on 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. Finally, Barclays decreased their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.64.

About Fortune Brands Innovations

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.