Franklin Street Advisors Inc. NC Sells 15,035 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Franklin Street Advisors Inc. NC reduced its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 68.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,925 shares of the company’s stock after selling 15,035 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Fortune Brands Innovations were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at $1,052,123,000. State Street Corp bought a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $365,010,000. Holocene Advisors LP acquired a new position in shares of Fortune Brands Innovations during the second quarter worth about $193,486,000. Geode Capital Management LLC bought a new position in shares of Fortune Brands Innovations during the second quarter worth about $136,564,000. Finally, Northern Trust Corp acquired a new stake in Fortune Brands Innovations in the 2nd quarter valued at approximately $102,867,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the sale, the director now owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $84.67 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average price is $80.19 and its two-hundred day moving average price is $71.70. The company has a market cap of $10.64 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.80 and a beta of 1.57. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.83.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $1.07 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Analyst Ratings Changes

FBIN has been the subject of several research reports. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating for the company. Barclays raised their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Finally, The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.63.

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.