Benjamin F. Edwards & Company Inc. Cuts Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Benjamin F. Edwards & Company Inc. lessened its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,628 shares of the company’s stock after selling 181 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Fortune Brands Innovations were worth $809,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FBIN. Vanguard Group Inc. grew its holdings in Fortune Brands Innovations by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock worth $771,388,000 after acquiring an additional 50,047 shares in the last quarter. Federated Hermes Inc. raised its stake in Fortune Brands Innovations by 6.4% in the third quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock valued at $127,162,000 after buying an additional 123,041 shares in the last quarter. Northern Trust Corp lifted its holdings in Fortune Brands Innovations by 15.7% during the 3rd quarter. Northern Trust Corp now owns 1,654,531 shares of the company’s stock worth $102,846,000 after buying an additional 224,829 shares during the last quarter. FMR LLC boosted its position in shares of Fortune Brands Innovations by 2.8% during the 3rd quarter. FMR LLC now owns 1,525,640 shares of the company’s stock worth $94,834,000 after acquiring an additional 40,839 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Fortune Brands Innovations by 4.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,485,605 shares of the company’s stock valued at $92,345,000 after acquiring an additional 62,243 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Down 1.2 %

NYSE:FBIN opened at $72.84 on Wednesday. The stock has a fifty day moving average price of $78.71 and a two-hundred day moving average price of $74.73. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.02 and a beta of 1.58. 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 released its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. Fortune Brands Innovations’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FBIN shares. Barclays boosted their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Robert W. Baird lifted their price target on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They issued a “market perform” rating for the company. BMO Capital Markets reissued a “market perform” rating and issued a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Finally, Evercore ISI dropped their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 1st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and an average price target of $79.22.

Insider Activity

In related news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the sale, the director now directly owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.99% of the company’s stock.

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.