Giverny Capital Inc. Has $31.65 Million Stake in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Giverny Capital Inc. raised its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 463,140 shares of the company's stock after acquiring an additional 17,034 shares during the quarter. Fortune Brands Innovations comprises approximately 1.2% of Giverny Capital Inc.'s holdings, making the stock its 27th largest position. Giverny Capital Inc. owned about 0.37% of Fortune Brands Innovations worth $31,646,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FBIN. EP Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at about $262,000. MML Investors Services LLC raised its position in shares of Fortune Brands Innovations by 7.7% in the third quarter. MML Investors Services LLC now owns 4,674 shares of the company's stock valued at $418,000 after purchasing an additional 335 shares during the period. M&T Bank Corp lifted its stake in shares of Fortune Brands Innovations by 35.5% in the third quarter. M&T Bank Corp now owns 16,620 shares of the company's stock worth $1,488,000 after buying an additional 4,354 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth $261,000. Finally, Toronto Dominion Bank raised its holdings in Fortune Brands Innovations by 30.2% in the 3rd quarter. Toronto Dominion Bank now owns 15,775 shares of the company's stock worth $1,412,000 after acquiring an additional 3,655 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded up $0.94 during mid-day trading on Friday, hitting $51.41. The company's stock had a trading volume of 1,433,281 shares, compared to its average volume of 1,394,874. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 2.00 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The stock has a fifty day moving average of $60.90 and a 200-day moving average of $71.60.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data 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 net margin of 10.24% and a return on equity of 22.05%. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

About Fortune Brands Innovations

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.