HBK Sorce Advisory LLC Sells 260 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

HBK Sorce Advisory LLC cut its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,893 shares of the company’s stock after selling 260 shares during the period. HBK Sorce Advisory LLC’s holdings in Fortune Brands Innovations were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Up 3.6 %

Fortune Brands Innovations stock opened at $62.21 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The business’s 50-day simple moving average is $68.36 and its two-hundred day simple moving average is $76.08. The company has a market cap of $7.63 billion, a PE ratio of 16.59, a PEG ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a fifty-two week low of $59.64 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results 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%. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays reduced their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. UBS Group reduced their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group reduced their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada reduced their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.64.

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.