Cary Street Partners Financial LLC Invests $349,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Cary Street Partners Financial LLC bought a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,106 shares of the company’s stock, valued at approximately $349,000.

A number of other large investors have also added to or reduced their stakes in FBIN. Flagship Wealth Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at approximately $55,000. IFP Advisors Inc increased its holdings in Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after purchasing an additional 275 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $82,000. Finally, Blue Trust Inc. boosted its stake in shares of Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after buying an additional 219 shares during the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

FBIN opened at $51.26 on Friday. 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 company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. The business has a 50 day moving average price of $56.44 and a two-hundred day moving average price of $67.66. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The business’s revenue was down 6.9% compared to the same quarter last year. Research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FBIN has been the topic of several recent analyst reports. UBS Group cut their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada decreased their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Robert W. Baird lowered their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Barclays decreased their price objective on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday. Seven investment 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.com, the company currently has an average rating of “Hold” and an average target price of $77.17.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ron Wilson sold 1,500 shares of the 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 completion of the sale, 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. Corporate insiders own 1.00% of the company’s stock.

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.