Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,391 shares of the company’s stock after selling 259 shares during the quarter. Securian Asset Management Inc.’s holdings in Fortune Brands Innovations were worth $642,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in Fortune Brands Innovations by 10.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 10,343 shares of the company’s stock worth $926,000 after buying an additional 1,001 shares during the period. Aptus Capital Advisors LLC acquired a new position in Fortune Brands Innovations in the 3rd quarter worth approximately $257,000. Oppenheimer & Co. Inc. acquired a new position in Fortune Brands Innovations in the 3rd quarter worth approximately $208,000. Tokio Marine Asset Management Co. Ltd. increased its holdings in Fortune Brands Innovations by 5.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,041 shares of the company’s stock worth $451,000 after buying an additional 261 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Fortune Brands Innovations by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insider Activity at Fortune Brands Innovations

In other news, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group cut 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 report on Tuesday, January 14th. UBS Group lowered their price objective on 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 lowered their price objective on 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. Finally, Royal Bank of Canada lowered their price objective on 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Trading Up 3.6 %

Shares of NYSE:FBIN opened at $62.21 on Monday. Fortune Brands Innovations, Inc. has a 1 year low of $59.64 and a 1 year high of $90.54. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. 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 business’s 50 day moving average price is $68.36 and its 200-day moving average price is $76.06.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results 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, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

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.