Stratos Wealth Partners LTD. Purchases New Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Stratos Wealth Partners LTD. purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,096 shares of the company’s stock, valued at approximately $236,000.

A number of other institutional investors have also recently made changes to their positions in the business. Sound Income Strategies LLC bought a new stake in Fortune Brands Innovations in the fourth quarter worth about $27,000. Operose Advisors LLC purchased a new position in shares of Fortune Brands Innovations during the third quarter worth approximately $31,000. BluePath Capital Management LLC purchased a new position in shares of Fortune Brands Innovations during the third quarter worth approximately $32,000. IFP Advisors Inc purchased a new position in shares of Fortune Brands Innovations during the second quarter worth approximately $36,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of Fortune Brands Innovations by 7,122.2% during the third quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock worth $40,000 after acquiring an additional 641 shares during the period. Institutional investors own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction on Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the sale, the director now directly owns 2,435 shares in the company, valued at $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.99% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $76.30 on Tuesday. The firm’s fifty day simple moving average is $80.70 and its two-hundred day simple moving average is $73.22. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $84.92. The firm has a market capitalization of $9.59 billion, a P/E ratio of 24.07, a P/E/G ratio of 2.21 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current fiscal year.

Analysts Set New Price Targets

FBIN has been the topic of a number of research reports. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating on the stock. Barclays raised their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.63.

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.