Hunter Associates Investment Management LLC Sells 1,243 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Hunter Associates Investment Management LLC trimmed its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 15.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,699 shares of the company’s stock after selling 1,243 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Fortune Brands Innovations were worth $510,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Tributary Capital Management LLC increased its holdings in Fortune Brands Innovations by 1.9% in the 4th quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock worth $659,000 after buying an additional 164 shares in the last quarter. Everhart Financial Group Inc. grew its stake in shares of Fortune Brands Innovations by 4.6% during the 4th quarter. Everhart Financial Group Inc. now owns 4,076 shares of the company’s stock valued at $310,000 after purchasing an additional 178 shares during the period. Signaturefd LLC grew its stake in shares of Fortune Brands Innovations by 10.7% during the 3rd quarter. Signaturefd LLC now owns 1,937 shares of the company’s stock valued at $120,000 after purchasing an additional 187 shares during the period. Harbor Investment Advisory LLC grew its stake in shares of Fortune Brands Innovations by 23.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $78,000 after purchasing an additional 198 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Fortune Brands Innovations by 2.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the company’s stock valued at $472,000 after purchasing an additional 200 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN traded down $0.07 during mid-day trading on Friday, hitting $73.51. 862,542 shares of the stock were exchanged, compared to its average volume of 899,264. The company has a market cap of $9.24 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.09 and a beta of 1.57. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.92. The firm has a 50-day moving average of $80.31 and a two-hundred day moving average of $73.41. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.89 and a current ratio of 1.70.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the firm earned $1.07 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.27 earnings per share for the current year.

Insider Activity at Fortune Brands Innovations

In related news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now owns 2,435 shares in the company, valued at approximately $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FBIN shares. Robert W. Baird cut their price target on Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday. Oppenheimer started coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating for the company. BMO Capital Markets reiterated a “market perform” rating and set a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Finally, Barclays boosted their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $78.44.

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.