Essential Planning LLC. Purchases New Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Essential Planning LLC. purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 10,270 shares of the company’s stock, valued at approximately $702,000.

Other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after purchasing an additional 121 shares during the last quarter. Smithfield Trust Co lifted its holdings in Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock valued at $271,000 after purchasing an additional 133 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction on 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 transaction, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Fortune Brands Innovations Trading Down 1.6 %

Shares of Fortune Brands Innovations stock opened at $60.03 on Friday. Fortune Brands Innovations, Inc. has a 12-month low of $59.64 and a 12-month high of $90.54. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 16.01, a PEG 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. The company’s 50-day moving average price is $68.63 and its 200-day moving average price is $76.35.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. On average, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group dropped 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 shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada dropped their price objective 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. Finally, Barclays lowered their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.64.

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.