Invesco Ltd. Sells 31,663 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Invesco Ltd. cut its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,759,879 shares of the company’s stock after selling 31,663 shares during the period. Invesco Ltd. owned 1.42% of Fortune Brands Innovations worth $120,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of FBIN. Norges Bank purchased a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $101,122,000. Amundi lifted its stake in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after acquiring an additional 1,442,195 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Fortune Brands Innovations by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock worth $196,153,000 after acquiring an additional 1,110,021 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Fortune Brands Innovations during the 4th quarter valued at $59,970,000. Finally, Raymond James Financial Inc. bought a new position in Fortune Brands Innovations in the 4th quarter valued at $40,027,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Trading Up 0.4 %

FBIN opened at $51.70 on Friday. The business has a fifty day moving average price of $62.31 and a 200 day moving average price of $72.52. 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, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.00 and a beta of 1.42.

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

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The stock was 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 trade represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction 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 purchase, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group decreased their target price on 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. Royal Bank of Canada lowered their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Barclays cut their target price on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target for the company. Finally, The Goldman Sachs Group cut 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. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.33.

About Fortune Brands Innovations

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.