Ancora Advisors LLC Has $14.52 Million Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Ancora Advisors LLC lowered its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 212,442 shares of the company's stock after selling 40,604 shares during the quarter. Ancora Advisors LLC owned about 0.17% of Fortune Brands Innovations worth $14,516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Flagship Wealth Advisors LLC bought a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter worth $55,000. IFP Advisors Inc lifted its holdings in Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after acquiring an additional 275 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Fortune Brands Innovations in the fourth quarter valued at about $82,000. Finally, Blue Trust Inc. increased its holdings in shares of Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after acquiring an additional 219 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FBIN shares. UBS Group cut their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target for the company. Royal Bank of Canada lowered their price objective 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. The Goldman Sachs Group reduced their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, Barclays decreased their target price on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of "Hold" and a consensus price target of $84.33.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock traded down $0.53 during midday trading on Monday, reaching $54.28. 1,284,064 shares of the company's stock were exchanged, compared to its average volume of 1,398,321. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock's 50-day simple moving average is $57.46 and its 200 day simple moving average is $68.41. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) 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, analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Ron Wilson sold 1,500 shares of the firm's 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 transaction, the executive vice president now directly owns 10,066 shares of the company's stock, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kristin Papesh purchased 483 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

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.