Elo Mutual Pension Insurance Co Has $708,000 Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Elo Mutual Pension Insurance Co decreased its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,366 shares of the company’s stock after selling 744 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Fortune Brands Innovations were worth $708,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at about $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations during the 4th quarter worth approximately $55,000. IFP Advisors Inc increased its holdings in shares of 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 acquiring an additional 275 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after acquiring an additional 219 shares during the period. Institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

FBIN has been the subject of several recent research reports. Barclays reduced their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada cut 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 report on Friday, February 7th. The Goldman Sachs Group dropped their price target on shares of 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. Finally, UBS Group lowered their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Trading Down 3.0 %

FBIN opened at $60.84 on Monday. 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 fifty-two week low of $59.64 and a fifty-two week high of $90.54. The company’s 50 day moving average price is $66.71 and its two-hundred day moving average price is $74.97. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.00 and a beta of 1.53.

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%. As a group, research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the business’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 owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Fortune Brands Innovations Company 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.