Prudential Financial Inc. Sells 23,130 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Prudential Financial Inc. trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 28.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 56,967 shares of the company’s stock after selling 23,130 shares during the period. Prudential Financial Inc.’s holdings in Fortune Brands Innovations were worth $3,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC boosted its position in 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 buying an additional 138 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of 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 acquiring an additional 156 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after purchasing an additional 170 shares during the period. Capital Investment Advisors LLC grew 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 purchasing an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Fortune Brands Innovations by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock valued at $260,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have commented on FBIN. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a report on Tuesday. They set a “hold” rating and a $70.00 target price on the stock. Royal Bank of Canada reduced their target price 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. Barclays lowered their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group reduced 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 research note on Tuesday, January 14th. Finally, UBS Group decreased their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $85.25.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $60.91 on Wednesday. Fortune Brands Innovations, Inc. has a one year low of $59.58 and a one year high of $90.54. The company has a market cap of $7.47 billion, a PE ratio of 16.24, a P/E/G ratio of 2.00 and a beta of 1.53. The stock has a 50-day moving average of $66.16 and a 200-day moving average of $74.67. 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 (NYSE:FBIN) last announced its quarterly earnings data 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, equities research analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS 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.