Cerity Partners LLC Sells 5,409 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Cerity Partners LLC lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,271 shares of the company's stock after selling 5,409 shares during the period. Cerity Partners LLC's holdings in Fortune Brands Innovations were worth $1,727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBIN. U.S. Capital Wealth Advisors LLC raised its stake in Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock valued at $556,000 after purchasing an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in shares of Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock valued at $222,000 after buying an additional 156 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Fortune Brands Innovations by 11.2% during the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock worth $115,000 after acquiring an additional 170 shares during the period. Capital Investment Advisors LLC boosted its position in shares of Fortune Brands Innovations by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company's stock worth $208,000 after acquiring an additional 190 shares in the last quarter. Finally, CIBC Asset Management Inc increased 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 valued at $260,000 after acquiring an additional 201 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on FBIN. The Goldman Sachs Group cut their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. UBS Group reduced their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price for the company. Royal Bank of Canada reduced their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Finally, Barclays lowered their price objective on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of "Hold" and a consensus target price of $84.33.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Kristin Papesh acquired 483 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business's 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 directly owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Fortune Brands Innovations Trading Up 2.9 %

NYSE:FBIN traded up $1.46 during trading hours on Tuesday, hitting $51.40. 1,575,562 shares of the company were exchanged, compared to its average volume of 1,397,807. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The company has a fifty day simple moving average of $59.83 and a 200 day simple moving average of $70.72. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. Sell-side analysts expect 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.