Securian Asset Management Inc. Sells 259 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Securian Asset Management Inc. lowered its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,391 shares of the company’s stock after selling 259 shares during the period. Securian Asset Management Inc.’s holdings in Fortune Brands Innovations were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc increased its position in Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after purchasing an additional 121 shares during the last quarter. Smithfield Trust Co increased its position in Fortune Brands Innovations by 4.6% in the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after purchasing an additional 133 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in 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 purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after purchasing an additional 156 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group reduced 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. 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. Royal Bank of Canada reduced their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $86.64.

Fortune Brands Innovations Stock Up 3.6 %

Shares of FBIN opened at $62.21 on Monday. The firm has a market capitalization of $7.63 billion, a P/E ratio of 16.59, a P/E/G ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 12-month low of $59.64 and a 12-month high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average price of $68.36 and a 200-day moving average price of $76.06.

Fortune Brands Innovations (NYSE:FBIN) last issued its 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%. Equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, for a total transaction 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. This trade represents a 6.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction dated 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 owns 10,066 shares of the company’s stock, valued at $693,950.04. This 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 owned by insiders.

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.