Federated Hermes Inc. Trims Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Federated Hermes Inc. decreased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,078,259 shares of the company's stock after selling 201,730 shares during the period. Federated Hermes Inc. owned about 0.87% of Fortune Brands Innovations worth $73,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company's stock valued at $59,094,000 after purchasing an additional 11,722 shares during the period. Trust Point Inc. purchased a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $319,000. Raymond James Financial Inc. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $40,027,000. SG Americas Securities LLC lifted its position in shares of Fortune Brands Innovations by 812.5% in the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock valued at $2,292,000 after acquiring an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Fortune Brands Innovations by 41.9% in the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company's stock worth $1,612,000 after acquiring an additional 6,971 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

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Fortune Brands Innovations Trading Up 0.4 %

FBIN stock traded up $0.22 during mid-day trading on Friday, hitting $51.70. 3,610,461 shares of the company were exchanged, compared to its average volume of 1,380,698. The business has a fifty day simple moving average of $62.31 and a 200-day simple moving average of $72.52. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12-month low of $47.21 and a 12-month high of $90.54. The firm has a market capitalization of $6.27 billion, a P/E ratio of 13.79, a PEG ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its 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, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the transaction, the executive vice president now directly owns 10,066 shares of the company's stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kristin Papesh bought 483 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value 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. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays decreased their price objective on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada cut their price objective 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. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price on the stock. Finally, UBS Group cut their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $84.33.

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.