Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC cut its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 68.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,925 shares of the company’s stock after selling 15,035 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Fortune Brands Innovations were worth $527,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FBIN. Intrepid Capital Management Inc. acquired a new stake in shares of Fortune Brands Innovations in the second quarter worth approximately $25,000. Sound Income Strategies LLC acquired a new stake in Fortune Brands Innovations during the 4th quarter worth $27,000. Bessemer Group Inc. purchased a new stake in shares of Fortune Brands Innovations during the second quarter worth $26,000. IFP Advisors Inc acquired a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $36,000. Finally, Covestor Ltd purchased a new position in shares of Fortune Brands Innovations in the second quarter worth about $36,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Up 0.6 %

Fortune Brands Innovations stock opened at $84.67 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.89 and a current ratio of 1.70. The firm has a 50 day moving average price of $80.19 and a 200 day moving average price of $71.70. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $84.83. The company has a market capitalization of $10.64 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.80 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. Fortune Brands Innovations’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. Research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FBIN. Oppenheimer started coverage on Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating on the stock. The Goldman Sachs Group lifted their price target on Fortune Brands Innovations from $68.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Barclays upped their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of “Moderate Buy” and a consensus target price of $77.63.

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.