Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,654 shares of the company’s stock after selling 8,344 shares during the quarter. California Public Employees Retirement System’s holdings in Fortune Brands Innovations were worth $15,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in Fortune Brands Innovations by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock worth $59,094,000 after acquiring an additional 11,722 shares during the period. Trust Point Inc. purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $319,000. Raymond James Financial Inc. acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $40,027,000. SG Americas Securities LLC lifted its stake in Fortune Brands Innovations by 812.5% in the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after buying an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock worth $1,612,000 after buying an additional 6,971 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the company’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 value of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FBIN shares. Barclays reduced their target price 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. UBS Group decreased their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a report on Tuesday. They set a “hold” rating and a $70.00 target price for the company. Royal Bank of Canada decreased their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.25.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $52.98 on Friday. The firm has a 50 day simple moving average of $65.18 and a 200-day simple moving average of $74.23. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 14.13, 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. Fortune Brands Innovations, Inc. has a 1-year low of $50.61 and a 1-year high of $90.54.

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

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.