Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Oarsman Capital Inc.

Oarsman Capital Inc. reduced its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 507 shares of the company’s stock after selling 227 shares during the period. Oarsman Capital Inc.’s holdings in Fortune Brands Innovations were worth $35,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth $101,122,000. Amundi boosted its position in Fortune Brands Innovations by 166.8% in the 4th 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. Wellington Management Group LLP grew its stake in shares of Fortune Brands Innovations by 63.0% during the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock valued at $196,153,000 after acquiring an additional 1,110,021 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $59,970,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $40,027,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $52.98 on Monday. Fortune Brands Innovations, Inc. has a 12 month low of $50.61 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The stock has a fifty day moving average price of $65.18 and a 200 day moving average price of $74.08. The company has a market cap of $6.42 billion, a P/E ratio of 14.13, a PEG ratio of 2.00 and a beta of 1.42.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. 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 for the company in a research note on Friday, February 7th. Barclays reduced 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 note on Friday, February 7th. UBS Group dropped their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus price target of $85.25.

Insiders Place Their Bets

In related news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 10,066 shares of the company’s stock, valued at $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

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.