CIBC Private Wealth Group LLC Has $482,000 Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

CIBC Private Wealth Group LLC boosted its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 51.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,947 shares of the company’s stock after buying an additional 2,359 shares during the period. CIBC Private Wealth Group LLC’s holdings in Fortune Brands Innovations were worth $482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FBIN. Vanguard Group Inc. raised its holdings in shares of Fortune Brands Innovations by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock worth $821,840,000 after acquiring an additional 68,404 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Fortune Brands Innovations by 2.6% in the fourth quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company’s stock valued at $303,792,000 after purchasing an additional 114,391 shares in the last quarter. Amundi boosted its position in shares of Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after buying an additional 1,442,195 shares during the last quarter. Nordea Investment Management AB grew its holdings in Fortune Brands Innovations by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after buying an additional 35,289 shares in the last quarter. Finally, Norges Bank bought a new stake in Fortune Brands Innovations during the fourth quarter worth $101,122,000. Institutional investors own 87.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on FBIN shares. The Goldman Sachs Group reduced their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a research note on Tuesday. They issued a “hold” rating and a $70.00 price objective for the company. 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. Royal Bank of Canada reduced their target price 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. Finally, UBS Group cut their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.25.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $52.98 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The company has a market cap of $6.49 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 52 week low of $50.61 and a 52 week high of $90.54. The firm’s 50-day simple moving average is $65.18 and its two-hundred day simple moving average is $74.23.

Fortune Brands Innovations (NYSE:FBIN) 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%. Research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Activity

In other news, EVP Kristin Papesh bought 483 shares of the firm’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 of the company’s stock, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

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.