Corient Private Wealth LLC Sells 6,059 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Corient Private Wealth LLC decreased its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 24.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,709 shares of the company’s stock after selling 6,059 shares during the quarter. Corient Private Wealth LLC’s holdings in Fortune Brands Innovations were worth $1,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in Fortune Brands Innovations by 104.5% during the 3rd 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 in the last quarter. Amundi increased its position in shares of Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after acquiring an additional 1,442,195 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $40,027,000. Arvest Bank Trust Division bought a new position in Fortune Brands Innovations in the 3rd quarter valued at about $17,621,000. Finally, Prospector Partners LLC bought a new position in Fortune Brands Innovations in the 3rd quarter valued at about $11,953,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

FBIN opened at $62.67 on Wednesday. The firm has a market cap of $7.68 billion, a P/E ratio of 16.71, a PEG ratio of 2.00 and a beta of 1.53. 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 fifty-two week low of $59.64 and a fifty-two week high of $90.54. The firm has a 50-day moving average of $67.46 and a 200 day moving average of $75.33.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristin Papesh purchased 483 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price 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 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.

Wall Street Analysts Forecast Growth

FBIN has been the subject of a number of recent research reports. Barclays decreased their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group lowered 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. UBS Group cut their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Royal Bank of Canada lowered 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 report on Friday, February 7th. Six 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, 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.