Fortune Brands Innovations, Inc. (NYSE:FBIN) Stake Lifted by Huntington National Bank

Huntington National Bank increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,135 shares of the company’s stock after purchasing an additional 313 shares during the period. Huntington National Bank’s holdings in Fortune Brands Innovations were worth $624,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after buying an additional 138 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after acquiring an additional 156 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Fortune Brands Innovations by 11.2% during the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after purchasing an additional 170 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of Fortune Brands Innovations by 6.6% in the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after purchasing an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Fortune Brands Innovations by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after purchasing an additional 201 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Fortune Brands Innovations news, EVP Kristin Papesh acquired 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased 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 owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The transaction was disclosed in a document filed 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 dated 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 owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Fortune Brands Innovations Stock Down 3.7 %

Fortune Brands Innovations stock opened at $52.98 on Friday. The firm’s 50 day moving average price is $65.18 and its two-hundred day moving average price is $74.23. The firm has a market cap of $6.49 billion, a PE ratio of 14.13, a P/E/G ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a twelve month low of $50.61 and a twelve month high of $90.54. 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 (NYSE:FBIN) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (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 fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research note on Tuesday. They set a “hold” rating and a $70.00 price objective for the company. Barclays cut their target price on 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. The Goldman Sachs Group decreased their price target on 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. Finally, Royal Bank of Canada cut their price objective 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average price target of $85.25.

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.