Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 8.1% during the 4th quarter, HoldingsChannel reports. The firm owned 3,628 shares of the company’s stock after selling 320 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Fortune Brands Innovations were worth $248,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Verition Fund Management LLC boosted its position in shares of Fortune Brands Innovations by 166.1% during the 3rd quarter. Verition Fund Management LLC now owns 10,608 shares of the company’s stock valued at $950,000 after acquiring an additional 6,622 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $972,000. Investment Management Corp of Ontario acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth approximately $370,000. Point72 Asset Management L.P. purchased a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at approximately $11,114,000. Finally, Point72 DIFC Ltd acquired a new position in Fortune Brands Innovations in the third quarter valued at approximately $818,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $52.98 on Friday. The stock’s 50-day moving average is $65.18 and its two-hundred day moving average is $74.23. 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 cap of $6.49 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations, Inc. has a 1-year low of $50.61 and a 1-year high of $90.54.

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

Analysts Set New Price Targets

A number of research firms have commented on FBIN. The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. UBS Group decreased their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research note on Tuesday. They issued a “hold” rating and a $70.00 price target on the stock. Finally, Barclays dropped their target price 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average target price of $85.25.

Insider Buying and Selling

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

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.