Prudential PLC Boosts Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Prudential PLC grew its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 120.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,283 shares of the company’s stock after purchasing an additional 16,550 shares during the quarter. Prudential PLC’s holdings in Fortune Brands Innovations were worth $2,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Fortune Brands Innovations by 1.7% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after acquiring an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares during the period. UMB Bank n.a. increased its position in Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after buying an additional 170 shares in the last quarter. Capital Investment Advisors LLC raised its stake in shares of Fortune Brands Innovations by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after buying an additional 190 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Fortune Brands Innovations by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock valued at $260,000 after buying an additional 201 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FBIN shares. UBS Group lowered their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group cut their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Barclays decreased their target price 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. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price target for the company. Finally, Royal Bank of Canada decreased 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. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $85.25.

Insiders Place Their Bets

In related news, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction dated 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 owns 10,066 shares of the company’s stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kristin Papesh acquired 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought 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. 1.20% of the stock is owned by insiders.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $52.98 on Monday. The company has a market cap of $6.42 billion, a P/E ratio of 14.13, a P/E/G ratio of 2.00 and a beta of 1.42. The business’s 50 day moving average price is $65.18 and its 200-day moving average price is $74.08. Fortune Brands Innovations, Inc. has a fifty-two week low of $50.61 and a fifty-two week high of $90.54. 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 (NYSE:FBIN) last announced its earnings results 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 net margin of 10.24% and a return on equity of 22.05%. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current 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.