Sandy Spring Bank Sells 2,495 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Sandy Spring Bank trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 22.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,449 shares of the company’s stock after selling 2,495 shares during the period. Sandy Spring Bank’s holdings in Fortune Brands Innovations were worth $577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc raised its position in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after purchasing an additional 121 shares during the period. Smithfield Trust Co raised its position in shares of Fortune Brands Innovations by 4.6% during the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock valued at $271,000 after purchasing an additional 133 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in shares of 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 valued at $556,000 after purchasing an additional 138 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of Fortune Brands Innovations by 5.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares during the period. Finally, UMB Bank n.a. raised its position in shares of 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 during the period. 87.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on FBIN. The Goldman Sachs Group decreased 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 report on Tuesday, January 14th. Barclays reduced 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 report on Friday, February 7th. UBS Group reduced their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, 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 on the stock in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $62.48 on Friday. The company’s 50-day moving average price is $67.80 and its 200-day moving average price is $75.55. Fortune Brands Innovations, Inc. has a twelve month low of $59.64 and a twelve month high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The company has a market cap of $7.66 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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%. On average, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kristin Papesh purchased 483 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, with a total value of $29,941.17. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed 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 dated 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 of the company’s stock, 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. 1.20% of the stock is owned by corporate insiders.

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.