Northwest & Ethical Investments L.P. Sells 15,505 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Northwest & Ethical Investments L.P. trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 36.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,735 shares of the company's stock after selling 15,505 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Fortune Brands Innovations were worth $1,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC increased its position in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company's stock worth $530,040,000 after acquiring an additional 3,024,950 shares during the period. Amundi raised its position in shares of Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after buying an additional 1,442,195 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at about $40,027,000. Arvest Bank Trust Division bought a new stake in shares of Fortune Brands Innovations in the third quarter valued at about $17,621,000. Finally, Prospector Partners LLC acquired a new stake in Fortune Brands Innovations during the third quarter worth about $11,953,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, for a total transaction 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. This trade represents a 6.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The stock was 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 of the company's stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

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Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank of Canada reduced their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Barclays reduced their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, February 7th. UBS Group lowered their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price objective 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of "Hold" and an average price target of $86.64.

Fortune Brands Innovations Price Performance

FBIN stock traded down $0.60 during midday trading on Wednesday, reaching $62.19. 1,339,261 shares of the company's stock traded hands, compared to its average volume of 1,259,760. 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 $7.62 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 2.00 and a beta of 1.53. The company has a 50-day simple moving average of $67.46 and a two-hundred day simple moving average of $75.33. Fortune Brands Innovations, Inc. has a 1-year low of $59.64 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data 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 return on equity of 22.05% and a net margin of 10.24%. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current 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.