Addis & Hill Inc Purchases New Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Addis & Hill Inc purchased a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,858 shares of the company’s stock, valued at approximately $793,000. Fortune Brands Innovations accounts for approximately 0.6% of Addis & Hill Inc’s holdings, making the stock its 17th largest holding.

Several other institutional investors have also made changes to their positions in the stock. Choreo LLC lifted its stake in Fortune Brands Innovations by 2.9% during the first quarter. Choreo LLC now owns 5,701 shares of the company’s stock worth $483,000 after purchasing an additional 163 shares during the last quarter. Wedmont Private Capital lifted its stake in Fortune Brands Innovations by 2.9% during the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after purchasing an additional 164 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Fortune Brands Innovations by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after purchasing an additional 168 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after purchasing an additional 169 shares during the last quarter. Finally, CWM LLC lifted its stake in Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after purchasing an additional 169 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $83.79 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The stock has a fifty day simple moving average of $84.69 and a 200 day simple moving average of $76.03. Fortune Brands Innovations, Inc. has a twelve month low of $58.86 and a twelve month high of $90.54. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.65 and a beta of 1.51.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.15%. Fortune Brands Innovations’s payout ratio is currently 27.20%.

Wall Street Analysts Forecast Growth

FBIN has been the subject of a number of research reports. Loop Capital dropped their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Barclays increased their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets increased their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Truist Financial increased their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.20.

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.