BNP Paribas Financial Markets Sells 3,612 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

BNP Paribas Financial Markets decreased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,532 shares of the company’s stock after selling 3,612 shares during the period. BNP Paribas Financial Markets’ holdings in Fortune Brands Innovations were worth $4,546,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC raised 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 worth $556,000 after acquiring an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in Fortune Brands Innovations by 5.0% in the 4th 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 period. UMB Bank n.a. raised its position in Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after purchasing an additional 170 shares during the period. Capital Investment Advisors LLC lifted its stake in Fortune Brands Innovations by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after purchasing an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Fortune Brands Innovations by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased 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 trade represents a 6.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FBIN has been the subject of several recent research reports. UBS Group lowered their price objective on Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on shares of 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price target for the company. Royal Bank of Canada decreased their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 7th. Finally, Truist Financial set a $65.00 price objective on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Seven investment 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 an average rating of “Hold” and a consensus price target of $77.17.

Fortune Brands Innovations Stock Down 1.7%

Shares of FBIN opened at $56.40 on Wednesday. The firm has a market cap of $6.78 billion, a P/E ratio of 15.04, a PEG ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The stock’s 50 day moving average is $56.21 and its two-hundred day moving average is $67.11. 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 (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $0.83 earnings per share. Fortune Brands Innovations’s quarterly revenue was down 6.9% on a year-over-year basis. Analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Company 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.