Southeast Asset Advisors LLC Sells 1,117 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Southeast Asset Advisors LLC reduced its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,140 shares of the company’s stock after selling 1,117 shares during the period. Southeast Asset Advisors LLC’s holdings in Fortune Brands Innovations were worth $3,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Fortune Brands Innovations by 2.4% in the 4th quarter. Bank of Montreal Can now owns 20,017 shares of the company’s stock valued at $1,368,000 after purchasing an additional 461 shares during the period. Bell Asset Management Ltd lifted its stake in Fortune Brands Innovations by 30.8% in the fourth quarter. Bell Asset Management Ltd now owns 94,258 shares of the company’s stock valued at $6,441,000 after buying an additional 22,207 shares during the period. Prospector Partners LLC boosted its holdings in Fortune Brands Innovations by 0.3% during the fourth quarter. Prospector Partners LLC now owns 133,958 shares of the company’s stock worth $9,153,000 after buying an additional 450 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Fortune Brands Innovations by 10.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 46,104 shares of the company’s stock worth $3,150,000 after buying an additional 4,387 shares during the period. Finally, Aviva PLC increased its stake in shares of Fortune Brands Innovations by 885.8% in the 4th quarter. Aviva PLC now owns 249,160 shares of the company’s stock valued at $17,025,000 after acquiring an additional 223,884 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Kristin Papesh acquired 483 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Stock Down 3.7 %

Shares of Fortune Brands Innovations stock opened at $52.98 on Monday. The firm has a market cap of $6.42 billion, a PE ratio of 14.13, a P/E/G ratio of 2.00 and a beta of 1.42. The business’s 50 day simple moving average is $65.18 and its 200 day simple moving average is $74.08. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. Fortune Brands Innovations, Inc. has a 52-week low of $50.61 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) 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%. On average, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. 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. UBS Group reduced their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Barclays lowered their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Royal Bank of Canada cut their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price objective for the company. Seven equities 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 company has a consensus rating of “Hold” and a consensus target price of $85.25.

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.