Knuff & Co LLC Sells 2,000 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Knuff & Co LLC decreased its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 27.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,322 shares of the company’s stock after selling 2,000 shares during the quarter. Knuff & Co LLC’s holdings in Fortune Brands Innovations were worth $405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Tobam increased its stake in Fortune Brands Innovations by 1,181.5% in the 4th quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after acquiring an additional 319 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Fortune Brands Innovations in the 4th quarter worth approximately $27,000. Operose Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter worth approximately $31,000. BluePath Capital Management LLC purchased a new position in shares of Fortune Brands Innovations in the 3rd quarter worth approximately $32,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Fortune Brands Innovations by 7,122.2% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock worth $40,000 after purchasing an additional 641 shares during the period. Institutional investors own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In related news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the transaction, the director now directly owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FBIN shares. Oppenheimer started coverage on Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating for the company. Evercore ISI dropped their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday. Robert W. Baird boosted their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday. BMO Capital Markets restated a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Finally, Barclays boosted their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.22.

Fortune Brands Innovations Stock Up 2.4 %

Shares of FBIN traded up $1.72 during trading hours on Friday, hitting $73.15. The company had a trading volume of 1,610,731 shares, compared to its average volume of 1,121,452. The company has a market capitalization of $9.15 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.02 and a beta of 1.58. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 1.33. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92. The company’s fifty day moving average price is $79.00 and its two-hundred day moving average price is $74.30.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 earnings per share 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.