Addis & Hill Inc Acquires Shares of 8,858 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Addis & Hill Inc acquired a new stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,858 shares of the company's stock, valued at approximately $793,000. Fortune Brands Innovations accounts for 0.6% of Addis & Hill Inc's investment portfolio, making the stock its 17th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Choreo LLC increased its stake in Fortune Brands Innovations by 2.9% in the first quarter. Choreo LLC now owns 5,701 shares of the company's stock valued at $483,000 after purchasing an additional 163 shares in the last quarter. Wedmont Private Capital boosted its holdings in Fortune Brands Innovations by 2.9% in the third quarter. Wedmont Private Capital now owns 5,786 shares of the company's stock worth $502,000 after acquiring an additional 164 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Fortune Brands Innovations by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company's stock valued at $665,000 after acquiring an additional 168 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company's stock valued at $474,000 after acquiring an additional 169 shares in the last quarter. Finally, CWM LLC raised its position in shares of 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 period. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock traded up $0.46 during mid-day trading on Friday, reaching $83.79. 1,000,603 shares of the company's stock were exchanged, compared to its average volume of 1,174,572. The firm has a market capitalization of $10.40 billion, a PE ratio of 23.74, a P/E/G ratio of 2.65 and a beta of 1.51. 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 business's fifty day simple moving average is $84.69 and its 200 day simple moving average is $76.03. Fortune Brands Innovations, Inc. has a one year low of $58.86 and a one year high of $90.54.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 annualized dividend and a yield of 1.15%. Fortune Brands Innovations's payout ratio is 27.20%.

Analyst Upgrades and Downgrades

FBIN has been the topic of several research reports. Royal Bank of Canada upped their price objective on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a "sector perform" rating in a report on Friday, July 26th. Robert W. Baird raised their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Jefferies Financial Group raised their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Barclays lifted their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $90.20.

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.