Fortune Brands Innovations, Inc. $FBIN Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 20.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,538 shares of the company’s stock after purchasing an additional 1,646 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Fortune Brands Innovations were worth $491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in Fortune Brands Innovations in the first quarter valued at $26,000. National Pension Service lifted its stake in shares of Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after purchasing an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Fortune Brands Innovations by 119.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $37,000. Finally, LRI Investments LLC lifted its stake in shares of Fortune Brands Innovations by 1,142.6% in the 2nd quarter. LRI Investments LLC now owns 758 shares of the company’s stock valued at $39,000 after purchasing an additional 697 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FBIN. Truist Financial reaffirmed a “hold” rating and set a $60.00 price target (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday. Royal Bank Of Canada decreased their price target on shares of Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday. Vertical Research assumed coverage on shares of Fortune Brands Innovations in a research report on Tuesday, October 21st. They set a “hold” rating and a $52.00 price target for the company. Finally, Barclays reduced their price objective on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.40.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $50.86 on Friday. Fortune Brands Innovations, Inc. has a 12 month low of $47.21 and a 12 month high of $86.96. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The firm has a market capitalization of $6.10 billion, a P/E ratio of 15.99, a P/E/G ratio of 4.37 and a beta of 1.33. The company’s fifty day moving average price is $54.38 and its two-hundred day moving average price is $53.83.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. On average, research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is 31.45%.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $58.72, for a total transaction of $89,371.84. Following the completion of the sale, the chief executive officer owned 97,139 shares in the company, valued at $5,704,002.08. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.