Invesco Ltd. Sells 31,663 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Invesco Ltd. lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,759,879 shares of the company's stock after selling 31,663 shares during the period. Invesco Ltd. owned 1.42% of Fortune Brands Innovations worth $120,253,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Flagship Wealth Advisors LLC bought a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations in the 4th quarter worth $55,000. IFP Advisors Inc boosted its position in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after buying an additional 275 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Fortune Brands Innovations in the 4th quarter valued at approximately $82,000. Finally, Blue Trust Inc. lifted 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 in the last quarter. Institutional investors own 87.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays cut their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 price objective on the stock. UBS Group lowered their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, Royal Bank of Canada decreased their target price 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $84.33.

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Fortune Brands Innovations Stock Performance

FBIN traded down $0.06 during midday trading on Tuesday, reaching $51.48. The company had a trading volume of 2,078,481 shares, compared to its average volume of 1,390,717. The business has a 50-day moving average of $61.60 and a two-hundred day moving average of $72.01. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The company has a market cap of $6.24 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.00 and a beta of 1.42. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54.

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

Insider Buying and Selling 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 shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kristin Papesh acquired 483 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now 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 disclosure for this purchase can be found here. Company insiders own 1.20% of the company's stock.

Fortune Brands Innovations 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.