Invesco Ltd. Reduces Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Invesco Ltd. reduced its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,759,879 shares of the company’s stock after selling 31,663 shares during the quarter. Invesco Ltd.’s holdings in Fortune Brands Innovations were worth $120,253,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FBIN. U.S. Capital Wealth Advisors LLC lifted its stake in shares of Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after buying an additional 138 shares during the period. Atria Wealth Solutions Inc. boosted 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 worth $222,000 after purchasing an additional 156 shares during the last quarter. UMB Bank n.a. increased its stake 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 valued at $115,000 after purchasing an additional 170 shares during the last quarter. Capital Investment Advisors LLC lifted its position in Fortune Brands Innovations by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after buying an additional 190 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Fortune Brands Innovations by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristin Papesh acquired 483 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut 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 report on Tuesday, January 14th. Royal Bank of Canada cut 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 decreased their price objective on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a “hold” rating and a $70.00 target price on the stock. Finally, 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 research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $84.33.

Fortune Brands Innovations Stock Up 0.4 %

NYSE:FBIN opened at $51.70 on Friday. The business’s fifty day moving average price is $62.31 and its 200 day moving average price is $72.52. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.00 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released 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, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal 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.