The Manufacturers Life Insurance Company Has $7.51 Million Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

The Manufacturers Life Insurance Company boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 5.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,887 shares of the company's stock after purchasing an additional 6,063 shares during the period. The Manufacturers Life Insurance Company owned about 0.09% of Fortune Brands Innovations worth $7,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FBIN. U.S. Capital Wealth Advisors LLC raised its stake in shares of Fortune Brands Innovations by 1.7% during the fourth 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 last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Fortune Brands Innovations by 5.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock worth $222,000 after purchasing an additional 156 shares during the last quarter. UMB Bank n.a. grew its stake 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 increased its holdings in Fortune Brands Innovations by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company's stock valued at $208,000 after purchasing an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake 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 buying an additional 201 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FBIN has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research note on Wednesday. Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a research report on Wednesday. Barclays lowered their price objective on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday. Robert W. Baird decreased their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group dropped their price target 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. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $77.17.

Fortune Brands Innovations Stock Up 0.3 %

Shares of NYSE:FBIN traded up $0.17 during midday trading on Friday, hitting $51.26. The stock had a trading volume of 2,319,590 shares, compared to its average volume of 1,440,624. The company has a market cap of $6.21 billion, a P/E ratio of 13.67, a PEG ratio of 2.00 and a beta of 1.49. 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 business's 50-day simple moving average is $56.44 and its 200-day simple moving average is $67.66. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The shares were 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 owns 10,066 shares of the company's stock, 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. 1.00% of the stock is currently owned by 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.