Gabelli Funds LLC Sells 800 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Gabelli Funds LLC decreased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 156,400 shares of the company’s stock after selling 800 shares during the quarter. Gabelli Funds LLC owned 0.13% of Fortune Brands Innovations worth $10,687,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FBIN. Flagship Wealth Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $55,000. IFP Advisors Inc boosted its position in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after purchasing an additional 275 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Fortune Brands Innovations in the fourth quarter valued at about $82,000. Finally, Blue Trust Inc. lifted its stake in Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

FBIN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target for the company. Barclays cut their target price on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. UBS Group decreased their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on 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. Finally, Royal Bank of Canada decreased their target price 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.33.

Fortune Brands Innovations Stock Down 1.9 %

Shares of Fortune Brands Innovations stock opened at $50.54 on Thursday. The firm has a market cap of $6.13 billion, a PE ratio of 13.48, a P/E/G ratio of 2.00 and a beta of 1.42. The business’s 50 day simple moving average is $61.25 and its 200 day simple moving average is $71.86. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-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 (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%. On average, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal 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.