O Shaughnessy Asset Management LLC Decreases Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

O Shaughnessy Asset Management LLC reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,896 shares of the company’s stock after selling 982 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Fortune Brands Innovations were worth $676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in Fortune Brands Innovations in the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $55,000. IFP Advisors Inc boosted its holdings in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after purchasing an additional 275 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at approximately $82,000. Finally, Blue Trust Inc. increased its holdings in Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $48.44 on Wednesday. The stock’s fifty day moving average is $63.74 and its two-hundred day moving average is $73.37. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 2.00 and a beta of 1.42. 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, Inc. has a 1 year low of $47.89 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 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%. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction on 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 approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kristin Papesh acquired 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares of the company’s stock, 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.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada decreased 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 report on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a “hold” rating and a $70.00 target price on the stock. UBS Group decreased their price target 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. Finally, Barclays cut their price objective on Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.33.

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.