Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 27.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 116,141 shares of the company’s stock after selling 43,631 shares during the period. Hsbc Holdings PLC owned about 0.09% of Fortune Brands Innovations worth $7,936,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of 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 acquiring an additional 11,722 shares in the last quarter. Trust Point Inc. purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at $319,000. Raymond James Financial Inc. purchased a new position in Fortune Brands Innovations during the fourth quarter worth about $40,027,000. SG Americas Securities LLC lifted its position 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 buying an additional 29,867 shares during the period. Finally, M&T Bank Corp lifted its position in 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. UBS Group reduced their target price 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. Barclays reduced their target price on Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada reduced their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.33.

Fortune Brands Innovations Price Performance

FBIN stock opened at $54.02 on Tuesday. 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 $47.21 and a 1 year high of $90.54. The firm has a market cap of $6.55 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The stock has a 50-day simple moving average of $58.64 and a 200-day simple moving average of $69.65.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. On average, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $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 SEC, which is accessible through this link. Also, EVP Kristin Papesh purchased 483 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought 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 of the company’s stock, valued at $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

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.