Northwest & Ethical Investments L.P. Sells 15,505 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Northwest & Ethical Investments L.P. lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 36.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,735 shares of the company’s stock after selling 15,505 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Fortune Brands Innovations were worth $1,827,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Blueshift Asset Management LLC bought a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $236,000. Magnetar Financial LLC bought a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $2,128,000. Xponance Inc. lifted its position in shares of Fortune Brands Innovations by 6.4% in the fourth quarter. Xponance Inc. now owns 20,442 shares of the company’s stock worth $1,397,000 after purchasing an additional 1,225 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Fortune Brands Innovations by 10.5% in the fourth quarter. Intech Investment Management LLC now owns 8,724 shares of the company’s stock worth $596,000 after purchasing an additional 826 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in shares of Fortune Brands Innovations by 150.0% in the fourth quarter. Tocqueville Asset Management L.P. now owns 72,104 shares of the company’s stock worth $4,927,000 after purchasing an additional 43,267 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $62.48 on Friday. Fortune Brands Innovations, Inc. has a one year low of $59.64 and a one year high of $90.54. The company has a market cap of $7.66 billion, a P/E ratio of 16.66, a P/E/G ratio of 2.00 and a beta of 1.53. The firm’s fifty day moving average price is $67.80 and its two-hundred day moving average price is $75.55. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

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

Insider Buying and Selling at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FBIN shares. Barclays cut their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada dropped their price target on shares of 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 dropped their price target on shares of 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. Finally, The Goldman Sachs Group dropped their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.64.

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.