Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Acquired by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 49,978 shares of the company’s stock after buying an additional 3,875 shares during the quarter. LPL Financial LLC’s holdings in Fortune Brands Innovations were worth $3,415,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FBIN. Amundi grew its position in shares of Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after acquiring an additional 1,442,195 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter worth about $40,027,000. Arvest Bank Trust Division purchased a new stake in Fortune Brands Innovations in the 3rd quarter worth approximately $17,621,000. Ninety One UK Ltd raised its stake in shares of Fortune Brands Innovations by 6.6% during the 4th quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after purchasing an additional 74,369 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at $3,957,000. Institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FBIN. Royal Bank of Canada dropped their target price on shares of 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 target price for the company. UBS Group decreased their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group dropped 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. Finally, Barclays dropped their price objective on Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.33.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the business’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 completion of the sale, the executive vice president now owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kristin Papesh bought 483 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired 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 directly 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 disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $51.70 on Friday. 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 firm has a market cap of $6.27 billion, a PE ratio of 13.79, a PEG ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The company has a fifty day moving average price of $62.31 and a 200 day moving average price of $72.52.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS 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%. Research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Company 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.