Mitsubishi UFJ Trust & Banking Corp Sells 857 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 146,533 shares of the company’s stock after selling 857 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fortune Brands Innovations were worth $10,013,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group cut their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group dropped their target price 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. Barclays decreased their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Finally, Royal Bank of Canada dropped their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.64.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh bought 483 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $60.84 on Friday. The firm’s 50 day moving average price is $66.71 and its two-hundred day moving average price is $75.00. The stock has a market cap of $7.46 billion, a PE ratio of 16.22, a PEG ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 52-week low of $59.64 and a 52-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 posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) 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%. As a group, analysts forecast 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.