Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Position Raised by Cerity Partners LLC

Cerity Partners LLC raised its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 158.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,499 shares of the company’s stock after purchasing an additional 5,210 shares during the period. Cerity Partners LLC’s holdings in Fortune Brands Innovations were worth $648,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tobam raised its stake in shares of Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after purchasing an additional 319 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter worth about $27,000. Operose Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth about $31,000. BluePath Capital Management LLC purchased a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth about $32,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Fortune Brands Innovations by 7,122.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock worth $40,000 after purchasing an additional 641 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of recent analyst reports. BMO Capital Markets reissued a “market perform” rating and issued a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Robert W. Baird cut their price objective on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Barclays raised their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer initiated coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They issued a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.44.

Fortune Brands Innovations Stock Up 2.5 %

Shares of FBIN stock opened at $74.69 on Wednesday. Fortune Brands Innovations, Inc. has a 12 month low of $54.10 and a 12 month high of $84.92. The firm has a market cap of $9.39 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 2.09 and a beta of 1.57. The stock has a 50 day moving average of $80.07 and a 200-day moving average of $73.79. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. On average, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.27 EPS for the current year.

Insider Activity

In other news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now directly owns 2,435 shares in the company, valued at $197,478.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.99% of the stock is currently owned by company insiders.

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.