HBK Sorce Advisory LLC Sells 260 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

HBK Sorce Advisory LLC lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,893 shares of the company’s stock after selling 260 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Fortune Brands Innovations were worth $266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FBIN. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations during the 3rd quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations during the 4th quarter valued at approximately $55,000. IFP Advisors Inc raised its stake in Fortune Brands Innovations by 47.6% during 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. Darwin Wealth Management LLC bought a new stake in Fortune Brands Innovations during the 3rd quarter valued at approximately $81,000. Finally, Blue Trust Inc. raised 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 valued at $98,000 after purchasing an additional 219 shares during the period. Institutional investors own 87.60% of the company’s stock.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $62.21 on Friday. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock has a 50 day moving average price of $68.36 and a 200-day moving average price of $76.08. Fortune Brands Innovations, Inc. has a one year low of $59.64 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its 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 return on equity of 22.05% and a net margin of 10.24%. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on FBIN shares. 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. The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. UBS Group cut their price target 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. Finally, Royal Bank of Canada cut their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average price target of $86.64.

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.