Summit Trail Advisors LLC Raises Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Summit Trail Advisors LLC raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,196 shares of the company’s stock after acquiring an additional 945 shares during the quarter. Summit Trail Advisors LLC’s holdings in Fortune Brands Innovations were worth $548,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FBIN. Choreo LLC purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth approximately $422,000. Arvest Investments Inc. bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $1,561,000. Louisiana State Employees Retirement System bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $2,695,000. Walleye Trading LLC increased its holdings in shares of Fortune Brands Innovations by 72.4% in the 3rd quarter. Walleye Trading LLC now owns 30,323 shares of the company’s stock valued at $1,885,000 after acquiring an additional 12,738 shares during the period. Finally, Jump Financial LLC bought a new position in Fortune Brands Innovations in the third quarter worth about $596,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Insider Buying and Selling

In related news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the sale, the director now directly owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.99% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Stock Down 0.5 %

Shares of NYSE:FBIN traded down $0.37 during trading on Tuesday, hitting $73.39. The company’s stock had a trading volume of 169,445 shares, compared to its average volume of 1,075,207. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The company has a market capitalization of $9.18 billion, a PE ratio of 22.56, a P/E/G ratio of 2.02 and a beta of 1.58. The business has a 50 day moving average price of $78.88 and a two-hundred day moving average price of $74.62.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. Fortune Brands Innovations’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. As a group, research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FBIN. Evercore ISI reduced their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. 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, May 1st. 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. Finally, Barclays increased their price target on shares of 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’s stock. According to data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and a consensus price target of $79.22.

Fortune Brands Innovations Company 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.