New York State Common Retirement Fund Sells 17,188 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

New York State Common Retirement Fund lessened its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,777 shares of the company's stock after selling 17,188 shares during the period. New York State Common Retirement Fund owned about 0.08% of Fortune Brands Innovations worth $7,902,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Arvest Investments Inc. acquired a new position in shares of Fortune Brands Innovations in the fourth quarter worth approximately $1,561,000. Louisiana State Employees Retirement System acquired a new position in shares of Fortune Brands Innovations in the fourth quarter worth approximately $2,695,000. Walleye Trading LLC lifted its stake in shares of Fortune Brands Innovations by 72.4% in the third quarter. Walleye Trading LLC now owns 30,323 shares of the company's stock worth $1,885,000 after acquiring an additional 12,738 shares during the period. Jump Financial LLC acquired a new position in shares of Fortune Brands Innovations in the third quarter worth approximately $596,000. Finally, Achmea Investment Management B.V. lifted its stake in Fortune Brands Innovations by 148.0% in the third quarter. Achmea Investment Management B.V. now owns 130,914 shares of the company's stock valued at $8,138,000 after buying an additional 78,135 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

FBIN stock traded up $1.72 during midday trading on Friday, hitting $73.15. The company's stock had a trading volume of 1,610,727 shares, compared to its average volume of 1,090,007. The stock's 50-day moving average price is $79.15 and its 200 day moving average price is $74.22. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. Fortune Brands Innovations, Inc. has a 1 year low of $54.10 and a 1 year high of $84.92. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.02 and a beta of 1.58.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. BMO Capital Markets reissued a "market perform" rating and issued a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Oppenheimer initiated coverage on Fortune Brands Innovations in a report on Friday, January 19th. They set a "market perform" rating for the company. Robert W. Baird boosted their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday. Evercore ISI decreased their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an "in-line" rating for the company in a report on Wednesday. Finally, Barclays upped their price target on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $79.22.

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the company's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now directly owns 2,435 shares in the company, valued at approximately $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by 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.