Ossiam Boosts Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Ossiam raised its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBINFree Report) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,200 shares of the company’s stock after buying an additional 1,353 shares during the quarter. Ossiam’s holdings in Fortune Brands Innovations were worth $1,233,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FBIN. Tobam increased its stake in Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after purchasing an additional 319 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $27,000. Principal Securities Inc. purchased a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $29,000. First United Bank & Trust purchased a new stake in Fortune Brands Innovations in the fourth quarter valued at approximately $38,000. Finally, Operose Advisors LLC acquired a new position in Fortune Brands Innovations in the 3rd quarter worth approximately $31,000. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Up 0.4 %

FBIN opened at $66.24 on Tuesday. The company has a fifty day moving average of $73.38 and a two-hundred day moving average of $76.36. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04. Fortune Brands Innovations, Inc. has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.82 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. Fortune Brands Innovations’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.31 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, May 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FBIN shares. Robert W. Baird upped their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI lowered their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.22.

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About Fortune Brands Innovations

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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.

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Institutional Ownership by Quarter for Fortune Brands Innovations (NYSE:FBIN)

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