Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 23.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,616 shares of the company’s stock after selling 1,673 shares during the quarter. Cibc World Markets Corp’s holdings in Fortune Brands Innovations were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FBIN. Charles Schwab Investment Management Inc. raised its position in shares of Fortune Brands Innovations by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock valued at $59,094,000 after purchasing an additional 11,722 shares during the last quarter. Trust Point Inc. purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth $319,000. Raymond James Financial Inc. acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $40,027,000. SG Americas Securities LLC grew its holdings in shares of Fortune Brands Innovations by 812.5% during the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after buying an additional 29,867 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock valued at $1,612,000 after acquiring an additional 6,971 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays lowered their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada dropped their target price 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. UBS Group reduced their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Stock Down 0.8 %

Fortune Brands Innovations stock opened at $62.48 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The stock has a market capitalization of $7.66 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The business has a 50 day simple moving average of $67.80 and a 200-day simple moving average of $75.53. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS 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%. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Insider Activity at Fortune Brands Innovations

In other news, EVP Kristin Papesh purchased 483 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were 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 in the company, valued at $693,950.04. The trade was 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 corporate insiders.

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.