E. Ohman J or Asset Management AB Has $369,000 Stock 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, HoldingsChannel reports. The institutional investor owned 5,400 shares of the company’s stock after selling 1,300 shares during the quarter. 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 hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Fortune Brands Innovations in the third quarter valued at $25,000. Raleigh Capital Management Inc. lifted its stake in Fortune Brands Innovations by 31.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company’s stock valued at $80,000 after purchasing an additional 216 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Fortune Brands Innovations during the third quarter worth about $81,000. Blue Trust Inc. grew its holdings in Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock worth $98,000 after purchasing an additional 219 shares during the period. Finally, UMB Bank n.a. increased its position in Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after buying an additional 170 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on FBIN shares. Barclays reduced their target price on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Evercore ISI reduced their price objective on shares of 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. Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. The Goldman Sachs Group reduced their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, BMO Capital Markets increased their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.36.

Fortune Brands Innovations Stock Down 0.5 %

Shares of FBIN opened at $68.99 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $8.57 billion, a PE ratio of 19.43, a P/E/G ratio of 2.09 and a beta of 1.50. The firm’s 50 day moving average is $72.52 and its 200-day moving average is $78.03. 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 announced its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share 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 research analysts forecast that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 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 1.45%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is presently 27.04%.

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.