Alpha Omega Wealth Management LLC Decreases Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Alpha Omega Wealth Management LLC reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 29,150 shares of the company’s stock after selling 860 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Fortune Brands Innovations were worth $2,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FBIN. State Street Corp acquired a new stake in Fortune Brands Innovations during the second quarter worth about $365,010,000. American Century Companies Inc. increased its position in shares of Fortune Brands Innovations by 1,439.7% during the third quarter. American Century Companies Inc. now owns 665,475 shares of the company’s stock valued at $41,366,000 after acquiring an additional 622,253 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Fortune Brands Innovations by 62.8% during the fourth quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company’s stock valued at $105,888,000 after acquiring an additional 534,901 shares during the last quarter. Wells Fargo & Company MN acquired a new stake in shares of Fortune Brands Innovations during the second quarter valued at about $38,294,000. Finally, Royal Bank of Canada increased its position in shares of Fortune Brands Innovations by 110.8% during the third quarter. Royal Bank of Canada now owns 779,237 shares of the company’s stock valued at $48,438,000 after acquiring an additional 409,598 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.99% of the stock is owned by insiders.

Fortune Brands Innovations Stock Down 1.2 %

Shares of FBIN stock traded down $0.90 during trading on Wednesday, reaching $75.40. The company’s stock had a trading volume of 1,073,310 shares, compared to its average volume of 902,954. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 2.17 and a beta of 1.57. The stock’s 50-day moving average price is $80.66 and its 200 day moving average price is $73.32. Fortune Brands Innovations, Inc. has a 1-year low of $54.10 and a 1-year high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FBIN. Oppenheimer began coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating for the company. Barclays lifted their price target 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. Finally, BMO Capital Markets reiterated 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. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.63.

Fortune Brands Innovations Company 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.