Flagship Wealth Advisors LLC Invests $31,000 in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Flagship Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 448 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations in the 4th quarter worth approximately $55,000. IFP Advisors Inc lifted its position in Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after buying an additional 275 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Fortune Brands Innovations in the 3rd quarter worth approximately $81,000. Finally, Blue Trust Inc. lifted its position in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after buying an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FBIN shares. Royal Bank of Canada dropped their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group dropped their target price on 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. UBS Group dropped their target price on 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. Finally, Barclays lowered their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $86.64.

Insider Activity at Fortune Brands Innovations

In other news, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was 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 Price Performance

Shares of Fortune Brands Innovations stock opened at $63.24 on Wednesday. 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 $7.75 billion, a PE ratio of 16.87, a P/E/G ratio of 2.00 and a beta of 1.53. The business has a 50 day moving average of $68.17 and a 200 day moving average of $75.84. Fortune Brands Innovations, Inc. has a 52 week low of $59.64 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its 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%. As a group, equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

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.