Arizona State Retirement System Has $2.46 Million Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Arizona State Retirement System increased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 36,048 shares of the company’s stock after purchasing an additional 213 shares during the period. Arizona State Retirement System’s holdings in Fortune Brands Innovations were worth $2,463,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Fortune Brands Innovations during the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $55,000. IFP Advisors Inc increased its holdings in Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after purchasing an additional 275 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Fortune Brands Innovations during the 3rd quarter worth approximately $81,000. Finally, Blue Trust Inc. increased its holdings in Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank of Canada decreased their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays decreased their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. UBS Group decreased their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, The Goldman Sachs Group decreased 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.64.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $64.19 on Tuesday. The stock has a fifty day simple moving average of $68.91 and a two-hundred day simple moving average of $76.59. Fortune Brands Innovations, Inc. has a 1-year low of $60.81 and a 1-year high of $90.54. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current 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.