Broadway Wealth Solutions Inc. Acquires Shares of 3,806 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Broadway Wealth Solutions Inc. bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,806 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FBIN. FMR LLC lifted its holdings in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after purchasing an additional 3,024,950 shares during the last quarter. Norges Bank purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at approximately $101,122,000. Amundi boosted its holdings in 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 during the period. Raymond James Financial Inc. purchased a new position in Fortune Brands Innovations in the 4th quarter valued at approximately $40,027,000. Finally, Arvest Bank Trust Division purchased a new stake in shares of Fortune Brands Innovations during the third quarter worth $17,621,000. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FBIN. The Goldman Sachs Group reduced their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada lowered 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 report on Friday, February 7th. Barclays cut their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Finally, UBS Group lowered their target price on shares of 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.64.

Fortune Brands Innovations Trading Up 0.8 %

Shares of FBIN stock opened at $62.77 on Friday. The business has a 50-day moving average price of $66.98 and a two-hundred day moving average price of $75.16. Fortune Brands Innovations, Inc. has a 12-month low of $59.64 and a 12-month high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The firm has a market cap of $7.69 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

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 return on equity of 22.05% and a net margin of 10.24%. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the business’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 value of $103,410.00. Following 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.

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.