Proficio Capital Partners LLC Buys Shares of 57,905 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Proficio Capital Partners LLC purchased a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 57,905 shares of the company's stock, valued at approximately $3,957,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its position in Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company's stock worth $323,000 after purchasing an additional 121 shares during the last quarter. Smithfield Trust Co boosted its position in Fortune Brands Innovations by 4.6% in the third quarter. Smithfield Trust Co now owns 3,031 shares of the company's stock worth $271,000 after purchasing an additional 133 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position 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 worth $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock worth $222,000 after purchasing an additional 156 shares during the last quarter. Finally, UMB Bank n.a. lifted its position 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 valued at $115,000 after buying an additional 170 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction dated 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 completion of the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was 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 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 disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Fortune Brands Innovations Trading Down 0.8 %

FBIN traded down $0.53 during trading hours on Friday, reaching $62.48. 3,459,018 shares of the company's stock traded hands, compared to its average volume of 1,255,924. The firm has a 50-day moving average price of $67.93 and a 200 day moving average price of $75.67. Fortune Brands Innovations, Inc. has a 52-week low of $59.64 and a 52-week high of $90.54. 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 firm has a market capitalization of $7.66 billion, a PE ratio of 16.66, a PEG ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its 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 return on equity of 22.05% and a net margin of 10.24%. As a group, sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

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.