Sumitomo Mitsui Trust Holdings Inc. Sells 3,929 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 319,259 shares of the company’s stock after selling 3,929 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Fortune Brands Innovations worth $24,308,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tributary Capital Management LLC grew its stake in Fortune Brands Innovations by 1.9% in the 4th quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock worth $659,000 after acquiring an additional 164 shares in the last quarter. Everhart Financial Group Inc. grew its stake in Fortune Brands Innovations by 4.6% in the 4th quarter. Everhart Financial Group Inc. now owns 4,076 shares of the company’s stock worth $310,000 after acquiring an additional 178 shares in the last quarter. Signaturefd LLC grew its stake in Fortune Brands Innovations by 10.7% in the 3rd quarter. Signaturefd LLC now owns 1,937 shares of the company’s stock worth $120,000 after acquiring an additional 187 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Fortune Brands Innovations by 23.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $78,000 after acquiring an additional 198 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Fortune Brands Innovations by 2.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the company’s stock worth $472,000 after acquiring an additional 200 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on FBIN. Robert W. Baird dropped their target price on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays increased their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Oppenheimer began coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating on the stock. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.44.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Trading Down 0.1 %

NYSE:FBIN opened at $73.51 on Monday. Fortune Brands Innovations, Inc. has a 52 week low of $54.10 and a 52 week high of $84.92. The firm has a 50 day moving average of $80.31 and a 200 day moving average of $73.60. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.09 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. Fortune Brands Innovations’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current fiscal year.

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.