Natixis Advisors LLC Lowers Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Natixis Advisors LLC lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 21.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,289 shares of the company’s stock after selling 12,439 shares during the quarter. Natixis Advisors LLC’s holdings in Fortune Brands Innovations were worth $3,163,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock valued at $59,094,000 after buying an additional 11,722 shares during the last quarter. Trust Point Inc. purchased a new position in shares of Fortune Brands Innovations during the 4th quarter worth approximately $319,000. Raymond James Financial Inc. acquired a new stake in Fortune Brands Innovations in the 4th quarter valued at approximately $40,027,000. SG Americas Securities LLC lifted its stake in Fortune Brands Innovations by 812.5% during the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock worth $2,292,000 after purchasing an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Fortune Brands Innovations by 41.9% during the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock worth $1,612,000 after buying an additional 6,971 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kristin Papesh bought 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now directly 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 disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Fortune Brands Innovations Trading Down 0.8 %

FBIN opened at $62.48 on Friday. The business’s 50-day simple moving average is $67.80 and its 200-day simple moving average is $75.54. The company has a market cap of $7.66 billion, a P/E ratio of 16.66, a PEG ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a one year low of $59.64 and a one year high of $90.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share 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 expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FBIN shares. Barclays decreased their target price on 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. The Goldman Sachs Group dropped their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada decreased their price target 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. Finally, UBS Group cut their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Six equities research 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 stock presently has a consensus rating of “Hold” and a consensus target price 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.