Oppenheimer Asset Management Inc. Has $422,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 44.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,502 shares of the company’s stock after acquiring an additional 1,996 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Fortune Brands Innovations were worth $422,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FBIN. Norges Bank acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $91,504,000. Fiduciary Management Inc. WI grew its position in shares of Fortune Brands Innovations by 19.4% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,986,070 shares of the company’s stock worth $151,219,000 after buying an additional 322,472 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Fortune Brands Innovations by 276.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 303,379 shares of the company’s stock valued at $25,687,000 after acquiring an additional 222,796 shares during the last quarter. KBC Group NV increased its stake in shares of Fortune Brands Innovations by 2,809.5% in the 4th quarter. KBC Group NV now owns 212,335 shares of the company’s stock valued at $16,167,000 after acquiring an additional 205,037 shares during the last quarter. Finally, Robeco Schweiz AG raised its position in shares of Fortune Brands Innovations by 26.5% in the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after acquiring an additional 189,635 shares during the period. Institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Loop Capital decreased their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. The Goldman Sachs Group upped their price objective on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Truist Financial lifted their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and an average target price of $83.20.

Fortune Brands Innovations Stock Down 1.5 %

Shares of Fortune Brands Innovations stock opened at $86.57 on Friday. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $88.11. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The business’s 50 day simple moving average is $77.15 and its 200 day simple moving average is $74.69. The firm has a market cap of $10.83 billion, a PE ratio of 26.47, a P/E/G ratio of 2.50 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, analysts predict that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Friday, August 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

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.