Elo Mutual Pension Insurance Co Has $708,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Elo Mutual Pension Insurance Co lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,366 shares of the company’s stock after selling 744 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Fortune Brands Innovations were worth $708,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amundi raised its holdings in shares of Fortune Brands Innovations by 166.8% in the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after buying an additional 1,442,195 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Fortune Brands Innovations during the fourth quarter worth $40,027,000. Arvest Bank Trust Division bought a new position in shares of Fortune Brands Innovations during the third quarter valued at $17,621,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Fortune Brands Innovations by 11.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after purchasing an additional 130,170 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth about $11,114,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN opened at $60.84 on Monday. The stock has a market capitalization of $7.46 billion, a P/E ratio of 16.22, a P/E/G 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, Inc. has a 1-year low of $59.64 and a 1-year high of $90.54. The business has a 50-day moving average price of $66.71 and a two-hundred day moving average price of $74.97.

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%. Equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays reduced 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 research report on Friday, February 7th. The Goldman Sachs Group decreased their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. UBS Group cut their price objective 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. Finally, Royal Bank of Canada decreased their target price on 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. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average 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.