Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,891 shares of the company’s stock after selling 1,418 shares during the period. Arvest Investments Inc.’s holdings in Fortune Brands Innovations were worth $1,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Fortune Brands Innovations by 1.4% during the 4th 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 during the last quarter. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at $319,000. SG Americas Securities LLC lifted its position in shares of Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after acquiring an additional 29,867 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at $40,027,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Fortune Brands Innovations by 75.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 29,635 shares of the company’s stock valued at $2,003,000 after purchasing an additional 12,732 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FBIN. Royal Bank of Canada lowered their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. UBS Group reduced their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Barclays lowered their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.64.

Insider Activity

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Fortune Brands Innovations Trading Up 0.4 %

Shares of NYSE:FBIN opened at $63.57 on Thursday. The firm has a market capitalization of $7.79 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The firm has a fifty day moving average of $68.06 and a two-hundred day moving average of $75.76. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12-month low of $59.64 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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 expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

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.