Broadway Wealth Solutions Inc. Invests $260,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Broadway Wealth Solutions Inc. acquired a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,806 shares of the company’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after buying an additional 3,024,950 shares during the last quarter. Norges Bank bought a new position in Fortune Brands Innovations in the 4th quarter valued at approximately $101,122,000. Amundi lifted 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 acquiring an additional 1,442,195 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Fortune Brands Innovations during the 4th quarter valued at $40,027,000. Finally, Arvest Bank Trust Division bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth $17,621,000. 87.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristin Papesh purchased 483 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Price Performance

NYSE FBIN opened at $62.77 on Friday. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 16.74, a PEG 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’s 50 day moving average is $66.98 and its two-hundred day moving average is $75.16. Fortune Brands Innovations, Inc. has a 12 month low of $59.64 and a 12 month high of $90.54.

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

Analysts Set New Price Targets

Several equities research analysts recently commented 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 research report on Tuesday, January 14th. UBS Group reduced their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research note 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 on the stock in a research report on Friday, February 7th. Finally, Barclays cut their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and a consensus price target of $86.64.

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.