E. Ohman J or Asset Management AB Has $369,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

E. Ohman J or Asset Management AB lessened its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 19.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,400 shares of the company’s stock after selling 1,300 shares during the period. E. Ohman J or Asset Management AB’s holdings in Fortune Brands Innovations were worth $369,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FBIN. SG Americas Securities LLC boosted its stake in Fortune Brands Innovations by 812.5% in the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after acquiring an additional 29,867 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after purchasing an additional 35,289 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Fortune Brands Innovations during the third quarter worth $208,000. KBC Group NV increased its holdings in Fortune Brands Innovations by 30.9% in the fourth quarter. KBC Group NV now owns 163,466 shares of the company’s stock valued at $11,169,000 after purchasing an additional 38,546 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Fortune Brands Innovations by 12.1% in the third quarter. Vontobel Holding Ltd. now owns 3,496 shares of the company’s stock valued at $313,000 after buying an additional 377 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

FBIN opened at $68.99 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.09 and a beta of 1.50. The business’s 50-day moving average price is $72.52 and its two-hundred day moving average price is $78.03. Fortune Brands Innovations, Inc. has a 1 year low of $62.54 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. Equities analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.45%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FBIN. Evercore ISI decreased their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets upped their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. UBS Group reduced their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Truist Financial upped their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird reduced their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $89.36.

Fortune Brands Innovations 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.