Arvest Investments Inc. Has $1.29 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Arvest Investments Inc. trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,891 shares of the company’s stock after selling 1,418 shares during the period. Arvest Investments Inc.’s holdings in Fortune Brands Innovations were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position 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 last quarter. Trust Point Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $319,000. SG Americas Securities LLC boosted its position in shares of Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after acquiring an additional 29,867 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $40,027,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Fortune Brands Innovations by 75.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 29,635 shares of the company’s stock valued at $2,003,000 after acquiring an additional 12,732 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Up 0.4 %

Shares of NYSE FBIN opened at $63.57 on Thursday. Fortune Brands Innovations, Inc. has a 1-year low of $59.64 and a 1-year high of $90.54. The company has a market cap of $7.79 billion, a PE ratio of 16.95, a P/E/G ratio of 2.00 and a beta of 1.53. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $68.06 and a two-hundred day moving average of $75.76.

Fortune Brands Innovations (NYSE:FBIN) last announced 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%. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FBIN shares. UBS Group decreased their target price 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. Barclays decreased their target price 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 decreased their target price 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. Finally, The Goldman Sachs Group reduced 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $86.64.

Insider Buying and Selling

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

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.