Blueshift Asset Management LLC Invests $236,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Blueshift Asset Management LLC bought a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,460 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in shares of Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after purchasing an additional 121 shares during the period. Smithfield Trust Co boosted its holdings 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 acquiring an additional 133 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake 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 valued at $556,000 after acquiring an additional 138 shares during the period. Atria Wealth Solutions Inc. increased its holdings in shares of Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after acquiring an additional 156 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Fortune Brands Innovations by 11.2% during 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 period. 87.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FBIN. 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 on the stock in a research note on Tuesday, January 14th. UBS Group cut their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada lowered their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Barclays decreased their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and an average target price of $86.64.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations 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 sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kristin Papesh purchased 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, with a total value 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 disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Fortune Brands Innovations Trading Down 0.8 %

NYSE FBIN opened at $62.48 on Friday. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.00 and a beta of 1.53. The business’s fifty day moving average is $67.80 and its 200-day moving average is $75.55. 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 one year low of $59.64 and a one year high of $90.54.

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

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.