Oppenheimer & Co. Inc. Buys Shares of 2,322 Fortune Brands Innovations, Inc. (NYSE:FBIN)

Oppenheimer & Co. Inc. bought a new stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,322 shares of the company’s stock, valued at approximately $208,000.

Several other large investors have also modified their holdings of the business. Van ECK Associates Corp boosted its holdings in shares of Fortune Brands Innovations by 1,074.0% in the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock valued at $2,426,000 after purchasing an additional 34,184 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Fortune Brands Innovations by 17.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock valued at $5,052,000 after purchasing an additional 8,836 shares during the period. Qsemble Capital Management LP boosted its holdings in shares of Fortune Brands Innovations by 1,091.8% in the second quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock valued at $1,848,000 after purchasing an additional 26,071 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the second quarter valued at approximately $421,000. Finally, Teca Partners LP boosted its holdings in shares of Fortune Brands Innovations by 165.0% in the second quarter. Teca Partners LP now owns 233,229 shares of the company’s stock valued at $15,146,000 after purchasing an additional 145,229 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $76.50 on Friday. The business’s fifty day simple moving average is $84.29 and its 200-day simple moving average is $76.49. The company has a market cap of $9.50 billion, a PE ratio of 21.55, a PEG ratio of 2.43 and a beta of 1.51. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. Analysts expect that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Barclays boosted their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. UBS Group lowered their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.36.

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.