Corient Private Wealth LLC Cuts Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Corient Private Wealth LLC lessened its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FBIN. Brooklyn Investment Group purchased a new stake in Fortune Brands Innovations in the third quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $55,000. IFP Advisors Inc lifted its holdings in Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after purchasing an additional 275 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after purchasing an additional 219 shares during the period. Finally, Asset Planning Inc purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $100,000. Institutional investors own 87.60% of the company's stock.

Insider Transactions at Fortune Brands Innovations

In other 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 transaction of $103,410.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kristin Papesh acquired 483 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased 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 $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently weighed in on FBIN shares. The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. UBS Group cut their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Royal Bank of Canada lowered their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Finally, Barclays cut 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations presently has an average rating of "Hold" and a consensus price target of $86.64.

Fortune Brands Innovations Trading Down 2.4 %

Shares of NYSE:FBIN traded down $1.52 during trading on Friday, reaching $61.18. The company's stock had a trading volume of 379,264 shares, compared to its average volume of 1,297,395. The stock has a market capitalization of $7.50 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month high of $90.54. 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 firm's 50 day simple moving average is $66.98 and its two-hundred day simple moving average is $75.16.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 22.05% and a net margin of 10.24%. On average, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS 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.