Xponance Inc. Boosts Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Xponance Inc. raised its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 20,442 shares of the company’s stock after buying an additional 1,225 shares during the quarter. Xponance Inc.’s holdings in Fortune Brands Innovations were worth $1,397,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Fortune Brands Innovations during the 3rd quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new stake in Fortune Brands Innovations during the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Fortune Brands Innovations during the 4th quarter valued at about $55,000. IFP Advisors Inc grew its stake in Fortune Brands Innovations by 47.6% during the 4th 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. Finally, Blue Trust Inc. grew its stake in Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $62.48 on Friday. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a twelve month low of $59.64 and a twelve month high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $67.80 and a 200 day moving average of $75.54.

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 return on equity of 22.05% and a net margin of 10.24%. Sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Analyst Ratings Changes

FBIN has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada decreased their price objective on 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. Barclays decreased their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Finally, UBS Group decreased their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and an average price target of $86.64.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, with a total value 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. The trade was a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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.