Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 87,694 shares of the company’s stock after selling 1,097 shares during the quarter. Amalgamated Bank’s holdings in Fortune Brands Innovations were worth $6,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Tobam boosted its stake in Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after purchasing an additional 319 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Fortune Brands Innovations during the fourth quarter worth about $27,000. Operose Advisors LLC acquired a new position in Fortune Brands Innovations in the 3rd quarter valued at about $31,000. BluePath Capital Management LLC acquired a new position in Fortune Brands Innovations in the 3rd quarter valued at about $32,000. Finally, Addison Advisors LLC lifted its position in Fortune Brands Innovations by 38.7% during the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock worth $43,000 after acquiring an additional 157 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortune Brands Innovations

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Evercore ISI cut their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, May 1st. Robert W. Baird upped their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating on the stock. BMO Capital Markets restated a “market perform” rating and issued a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Finally, Barclays boosted their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus price target of $79.22.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $73.15 on Monday. The stock has a fifty day moving average price of $79.00 and a 200 day moving average price of $74.40. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04. The stock has a market cap of $9.15 billion, a PE ratio of 22.37, a P/E/G ratio of 2.02 and a beta of 1.58. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $0.69 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 earnings per share 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.