Northwest & Ethical Investments L.P. Has $1.83 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Northwest & Ethical Investments L.P. trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 36.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,735 shares of the company’s stock after selling 15,505 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Fortune Brands Innovations were worth $1,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $55,000. IFP Advisors Inc lifted its holdings in shares of Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after acquiring an additional 275 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 0.8 %

Shares of NYSE FBIN opened at $62.48 on Friday. The stock has a market cap of $7.66 billion, a P/E ratio of 16.66, a P/E/G ratio of 2.00 and a beta of 1.53. The firm has a 50 day moving average price of $67.80 and a 200 day moving average price of $75.55. 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 $59.64 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued 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%. Analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations 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 owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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, for a total transaction of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This represents 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.

Analysts Set New Price Targets

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

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.