Giverny Capital Inc. Grows Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Giverny Capital Inc. raised its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 463,140 shares of the company's stock after purchasing an additional 17,034 shares during the period. Fortune Brands Innovations accounts for 1.2% of Giverny Capital Inc.'s investment portfolio, making the stock its 27th biggest position. Giverny Capital Inc. owned about 0.37% of Fortune Brands Innovations worth $31,646,000 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. Flagship Wealth Advisors LLC purchased a new position in Fortune Brands Innovations in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new position in Fortune Brands Innovations in the fourth quarter worth $55,000. IFP Advisors Inc increased its stake in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after acquiring an additional 275 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Fortune Brands Innovations during the fourth quarter valued at about $82,000. Finally, Blue Trust Inc. lifted its stake in Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after purchasing an additional 219 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Down 0.1 %

Shares of FBIN stock traded down $0.06 during mid-day trading on Tuesday, reaching $51.48. 2,078,481 shares of the company's stock traded hands, compared to its average volume of 1,390,719. The company's 50-day moving average price is $61.60 and its 200-day moving average price is $72.01. The company has a market cap of $6.24 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.00 and a beta of 1.42. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $90.54.

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Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. On average, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Activity at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FBIN shares. Barclays decreased their price objective on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada lowered their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. UBS Group reduced their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price target for the company. Finally, The Goldman Sachs Group reduced their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $84.33.

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.