Hunter Associates Investment Management LLC Sells 1,243 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Hunter Associates Investment Management LLC trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,699 shares of the company’s stock after selling 1,243 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Fortune Brands Innovations were worth $510,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Fortune Brands Innovations by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock valued at $771,388,000 after buying an additional 50,047 shares during the period. State Street Corp acquired a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at approximately $365,010,000. Federated Hermes Inc. boosted its stake in shares of Fortune Brands Innovations by 6.4% in the 3rd quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock valued at $127,162,000 after purchasing an additional 123,041 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Fortune Brands Innovations by 15.7% in the 3rd quarter. Northern Trust Corp now owns 1,654,531 shares of the company’s stock valued at $102,846,000 after purchasing an additional 224,829 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Fortune Brands Innovations by 2.8% in the 3rd quarter. FMR LLC now owns 1,525,640 shares of the company’s stock valued at $94,834,000 after purchasing an additional 40,839 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FBIN shares. BMO Capital Markets restated a “market perform” rating and issued a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Barclays raised their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Robert W. Baird cut their target price on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.44.

Fortune Brands Innovations Stock Down 0.1 %

FBIN traded down $0.07 during mid-day trading on Friday, reaching $73.51. 862,542 shares of the stock were exchanged, compared to its average volume of 899,264. The company has a 50 day moving average price of $80.31 and a two-hundred day moving average price of $73.41. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.89 and a current ratio of 1.70. The stock has a market capitalization of $9.24 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.09 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. As a group, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.27 EPS 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.