Baker Ellis Asset Management LLC Purchases 20,135 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Baker Ellis Asset Management LLC increased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 51.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,025 shares of the company’s stock after acquiring an additional 20,135 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Fortune Brands Innovations were worth $4,494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Walleye Trading LLC boosted its position in shares of Fortune Brands Innovations by 72.4% during 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 last quarter. Jump Financial LLC bought a new position in shares of Fortune Brands Innovations during the third quarter worth $596,000. Achmea Investment Management B.V. boosted its position in shares of Fortune Brands Innovations by 148.0% during the third quarter. Achmea Investment Management B.V. now owns 130,914 shares of the company’s stock worth $8,138,000 after acquiring an additional 78,135 shares during the last quarter. Aviva PLC boosted its position in shares of Fortune Brands Innovations by 10.4% during the third quarter. Aviva PLC now owns 193,233 shares of the company’s stock worth $12,011,000 after acquiring an additional 18,274 shares during the last quarter. Finally, FCF Advisors LLC bought a new position in shares of Fortune Brands Innovations during the fourth quarter worth $1,090,000. Institutional investors own 87.60% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the transaction, the director now owns 2,435 shares in the company, valued at approximately $197,478.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of recent research reports. Barclays upped their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating on the stock. The Goldman Sachs Group upped their price target on shares of Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $82.00 target price (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.63.

Check Out Our Latest Stock Report on Fortune Brands Innovations

Fortune Brands Innovations Stock Performance

FBIN opened at $82.14 on Thursday. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month 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 firm has a market capitalization of $10.33 billion, a PE ratio of 25.91, a P/E/G ratio of 1.75 and a beta of 1.57. The firm has a 50 day moving average of $80.62 and a two-hundred day moving average of $72.26.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last posted its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $1.07 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

About Fortune Brands Innovations

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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