Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Rodgers Brothers Inc.

Rodgers Brothers Inc. cut its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,443 shares of the company’s stock after selling 500 shares during the period. Rodgers Brothers Inc.’s holdings in Fortune Brands Innovations were worth $3,105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FBIN. Cerity Partners LLC grew its position in Fortune Brands Innovations by 76.1% in the 3rd quarter. Cerity Partners LLC now owns 30,680 shares of the company’s stock valued at $2,747,000 after buying an additional 13,263 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Fortune Brands Innovations in the third quarter valued at approximately $25,000. BNP Paribas Financial Markets increased its stake in shares of Fortune Brands Innovations by 2.0% during the third quarter. BNP Paribas Financial Markets now owns 70,144 shares of the company’s stock valued at $6,280,000 after acquiring an additional 1,379 shares during the period. Townsquare Capital LLC raised its holdings in Fortune Brands Innovations by 13.6% during the third quarter. Townsquare Capital LLC now owns 6,766 shares of the company’s stock worth $606,000 after purchasing an additional 810 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fortune Brands Innovations by 11.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after purchasing an additional 130,170 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Kristin Papesh purchased 483 shares of the stock in a transaction dated 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 acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction 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 $693,950.04. This trade represents 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 corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FBIN. The Goldman Sachs Group lowered 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. Barclays decreased their target price on 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. UBS Group dropped their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Royal Bank of Canada reduced their price objective on shares of 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Price Performance

FBIN stock opened at $60.84 on Monday. The firm has a 50-day moving average of $66.71 and a two-hundred day moving average of $74.97. The firm has a market capitalization of $7.46 billion, a PE 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 one year low of $59.64 and a one year high of $90.54.

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

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.