Addison Advisors LLC Acquires 157 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Addison Advisors LLC increased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 38.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 563 shares of the company’s stock after purchasing an additional 157 shares during the period. Addison Advisors LLC’s holdings in Fortune Brands Innovations were worth $43,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Tobam boosted its holdings in Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after acquiring an additional 319 shares during the period. Sound Income Strategies LLC bought a new stake in Fortune Brands Innovations during the fourth quarter valued at about $27,000. Operose Advisors LLC acquired a new position in shares of Fortune Brands Innovations during the third quarter valued at about $31,000. BluePath Capital Management LLC acquired a new position in shares of Fortune Brands Innovations during the third quarter valued at about $32,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of Fortune Brands Innovations by 7,122.2% during the third quarter. Cullen Frost Bankers Inc. now owns 650 shares of the company’s stock valued at $40,000 after buying an additional 641 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN traded up $0.96 during mid-day trading on Friday, hitting $74.18. 1,023,086 shares of the company traded hands, compared to its average volume of 970,123. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $84.92. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. The business has a 50-day moving average of $79.71 and a 200 day moving average of $73.97. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.11 and a beta of 1.57.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Barclays upped their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer began coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They set a “market perform” rating for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $78.44.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were 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 of the company’s stock, valued at $197,478.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

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.