Prudential Financial Inc. Has $3.89 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Prudential Financial Inc. reduced its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 28.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,967 shares of the company’s stock after selling 23,130 shares during the quarter. Prudential Financial Inc.’s holdings in Fortune Brands Innovations were worth $3,893,000 at the end of the most recent reporting period.

Other large 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 valued at $157,953,000 after purchasing an additional 1,442,195 shares during the period. Raymond James Financial Inc. bought a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $40,027,000. Arvest Bank Trust Division acquired a new stake in shares of Fortune Brands Innovations in the third quarter valued at approximately $17,621,000. Point72 Asset Management L.P. bought a new position in shares of Fortune Brands Innovations during the 3rd quarter worth approximately $11,114,000. Finally, Ninety One UK Ltd increased its holdings in shares of Fortune Brands Innovations by 6.6% during the 4th quarter. Ninety One UK Ltd now owns 1,205,884 shares of the company’s stock worth $82,398,000 after acquiring an additional 74,369 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was 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 company insiders.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $60.91 on Wednesday. The business has a fifty day moving average price of $66.16 and a two-hundred day moving average price of $74.67. The stock has a market capitalization of $7.47 billion, a PE ratio of 16.24, a P/E/G ratio of 2.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. Fortune Brands Innovations, Inc. has a fifty-two week low of $59.58 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted 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 return on equity of 22.05% and a net margin of 10.24%. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FBIN has been the subject of several research reports. Royal Bank of Canada cut their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Barclays reduced their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a report on Tuesday. They issued a “hold” rating and a $70.00 price target on the stock. The Goldman Sachs Group reduced their price objective 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. Finally, UBS Group lowered their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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.