Corebridge Financial Inc. Trims Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Corebridge Financial Inc. lowered its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,558 shares of the company's stock after selling 6,198 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Fortune Brands Innovations worth $9,604,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fortune Brands Innovations by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company's stock worth $76,379,000 after acquiring an additional 4,248 shares during the last quarter. Cerity Partners LLC raised its position in Fortune Brands Innovations by 76.1% during the third quarter. Cerity Partners LLC now owns 30,680 shares of the company's stock valued at $2,747,000 after purchasing an additional 13,263 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Fortune Brands Innovations by 9.1% during the third quarter. Daiwa Securities Group Inc. now owns 9,600 shares of the company's stock worth $859,000 after purchasing an additional 800 shares during the last quarter. FMR LLC boosted its holdings in shares of Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company's stock worth $530,040,000 after purchasing an additional 3,024,950 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Fortune Brands Innovations by 0.6% during the 3rd quarter. D.A. Davidson & CO. now owns 82,874 shares of the company's stock valued at $7,420,000 after purchasing an additional 475 shares during the last quarter. Institutional investors own 87.60% of the company's stock.

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Insiders Place Their Bets

In other news, EVP Kristin Papesh bought 483 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company's stock.

Fortune Brands Innovations Trading Up 0.1 %

Shares of FBIN stock traded up $0.05 during mid-day trading on Monday, reaching $60.87. The stock had a trading volume of 974,547 shares, compared to its average volume of 1,301,213. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock's 50-day moving average price is $66.43 and its two-hundred day moving average price is $74.83. The firm has a market capitalization of $7.46 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 52-week low of $59.58 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 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%. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FBIN has been the subject of a number of recent research reports. Royal Bank of Canada cut their target price on 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 lowered their price objective on shares of 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 reduced 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 report on Tuesday, January 14th. Finally, UBS Group lowered 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 note on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $86.64.

About Fortune Brands Innovations

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.