Rodgers Brothers Inc. Sells 500 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Rodgers Brothers Inc. trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,443 shares of the company’s stock after selling 500 shares during the period. Rodgers Brothers Inc.’s holdings in Fortune Brands Innovations were worth $3,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FBIN. Wellington Management Group LLP raised its holdings in Fortune Brands Innovations by 63.0% in the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock worth $196,153,000 after acquiring an additional 1,110,021 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $59,970,000. CIBC Private Wealth Group LLC increased its stake in shares of Fortune Brands Innovations by 51.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 6,947 shares of the company’s stock worth $482,000 after purchasing an additional 2,359 shares during the period. Schroder Investment Management Group increased its stake in shares of Fortune Brands Innovations by 0.4% in the fourth quarter. Schroder Investment Management Group now owns 57,629 shares of the company’s stock worth $3,936,000 after purchasing an additional 238 shares during the period. Finally, Allstate Corp bought a new stake in Fortune Brands Innovations during the 4th quarter valued at approximately $244,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations 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 transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kristin Papesh acquired 483 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average price 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 approximately $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group lowered their target price 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. Barclays dropped their target price on shares of 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. Royal Bank of Canada reduced their price target 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. 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 on the stock in a report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $60.84 on Monday. The stock’s fifty day simple moving average is $66.71 and its 200 day simple moving average is $74.97. 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 one year low of $59.64 and a one year high of $90.54. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. On average, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal 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.