Achmea Investment Management B.V. Trims Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Achmea Investment Management B.V. trimmed its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 40.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,854 shares of the company’s stock after selling 40,026 shares during the quarter. Achmea Investment Management B.V.’s holdings in Fortune Brands Innovations were worth $3,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Point Inc. bought a new position in Fortune Brands Innovations in the 4th quarter worth approximately $319,000. SG Americas Securities LLC boosted its stake in Fortune Brands Innovations by 812.5% in the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock worth $2,292,000 after purchasing an additional 29,867 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Fortune Brands Innovations by 75.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 29,635 shares of the company’s stock worth $2,003,000 after purchasing an additional 12,732 shares during the period. Nordea Investment Management AB boosted its stake in Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after purchasing an additional 35,289 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 worth $59,094,000 after purchasing an additional 11,722 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FBIN shares. UBS Group dropped their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 7th. The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada lowered their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Barclays lowered their target price 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Stock Up 3.6 %

Shares of FBIN opened at $62.21 on Friday. The company has a market cap of $7.63 billion, a PE ratio of 16.59, a P/E/G ratio of 2.00 and a beta of 1.53. The business has a fifty day moving average of $68.36 and a 200 day moving average of $76.10. Fortune Brands Innovations, Inc. has a 52-week low of $59.64 and a 52-week high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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%. On average, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Ron Wilson sold 1,500 shares of the firm’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 transaction, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kristin Papesh purchased 483 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 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.