Atlas Capital Advisors Inc. Reduces Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Atlas Capital Advisors Inc. reduced its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,628 shares of the company’s stock after selling 320 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Fortune Brands Innovations were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FBIN. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after buying an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after acquiring an additional 156 shares during the last quarter. UMB Bank n.a. lifted its position in Fortune Brands Innovations by 11.2% during the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after acquiring an additional 170 shares during the period. Capital Investment Advisors LLC lifted its position in Fortune Brands Innovations by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after acquiring an additional 190 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Fortune Brands Innovations by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock valued at $260,000 after purchasing an additional 201 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh acquired 483 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a legal 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 value of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Down 3.7 %

Shares of FBIN opened at $52.98 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. Fortune Brands Innovations, Inc. has a 12 month low of $50.61 and a 12 month high of $90.54. The stock’s 50 day moving average is $65.18 and its two-hundred day moving average is $74.23. The firm has a market cap of $6.49 billion, a P/E ratio of 14.13, a PEG ratio of 2.00 and a beta of 1.53.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FBIN shares. The Goldman Sachs Group decreased their target price 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. Barclays decreased their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada cut 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 research note on Friday, February 7th. UBS Group decreased their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday. They set a “hold” rating and a $70.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.25.

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.