Prudential Financial Inc. Has $3.89 Million Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Prudential Financial Inc. trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,967 shares of the company's stock after selling 23,130 shares during the quarter. Prudential Financial Inc.'s holdings in Fortune Brands Innovations were worth $3,893,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new position in Fortune Brands Innovations during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $55,000. IFP Advisors Inc grew its position in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after purchasing an additional 275 shares during the period. Blue Trust Inc. increased its stake in Fortune Brands Innovations by 18.0% during the 4th 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. Finally, Asset Planning Inc acquired a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $100,000. 87.60% of the stock is owned by institutional investors.

Insider Activity at Fortune Brands Innovations

In related news, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $103,410.00. Following the completion of the transaction, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on FBIN shares. Royal Bank of Canada lowered 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 research report on Friday, February 7th. UBS Group lowered their target price 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. The Goldman Sachs Group cut their price target on 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 assumed coverage on Fortune Brands Innovations in a report on Tuesday. They set a "hold" rating and a $70.00 price objective for the company. Finally, Barclays cut 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations has an average rating of "Hold" and an average price target of $85.25.

Fortune Brands Innovations Stock Down 10.5 %

Shares of Fortune Brands Innovations stock traded down $6.50 on Thursday, reaching $55.16. 3,600,517 shares of the company were exchanged, compared to its average volume of 1,310,411. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 2.00 and a beta of 1.53. 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, Inc. has a one year low of $54.62 and a one year high of $90.54. The company has a 50-day moving average of $65.57 and a 200 day moving average of $74.45.

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