Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Axa S.A.

AXA S.A. reduced its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 23.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,652 shares of the company's stock after selling 7,617 shares during the quarter. AXA S.A.'s holdings in Fortune Brands Innovations were worth $1,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC grew its position in 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 worth $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock worth $222,000 after buying an additional 156 shares during the last quarter. UMB Bank n.a. increased its position in Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock valued at $115,000 after acquiring an additional 170 shares during the period. Capital Investment Advisors LLC raised its stake in Fortune Brands Innovations by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company's stock valued at $208,000 after acquiring an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Fortune Brands Innovations by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company's stock worth $260,000 after acquiring an additional 201 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FBIN has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target for the company. UBS Group reduced their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday. Robert W. Baird dropped their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday. The Goldman Sachs Group reduced their price objective on shares of 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. Finally, Royal Bank of Canada dropped their target price on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Seven research 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, Fortune Brands Innovations currently has an average rating of "Hold" and a consensus price target of $77.17.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock traded up $0.17 during trading hours on Friday, hitting $51.26. The stock had a trading volume of 2,319,590 shares, compared to its average volume of 1,443,214. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 2.00 and a beta of 1.49. The stock's fifty day moving average is $56.44 and its two-hundred day moving average is $67.39. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm's revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. As a group, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Activity at Fortune Brands Innovations

In other news, EVP Kristin Papesh acquired 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on 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 sale, the executive vice president now 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. 1.00% of the stock is owned by corporate insiders.

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.