OMERS ADMINISTRATION Corp Has $1.46 Million Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

OMERS ADMINISTRATION Corp cut its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 32.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,353 shares of the company’s stock after selling 10,027 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Fortune Brands Innovations were worth $1,459,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FBIN. Flagship Wealth Advisors LLC acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations during the 4th quarter valued at about $55,000. IFP Advisors Inc boosted its stake in Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after purchasing an additional 275 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Fortune Brands Innovations during the 4th quarter valued at about $82,000. Finally, Blue Trust Inc. boosted its stake in Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after purchasing an additional 219 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird cut their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a “hold” rating and a $70.00 price target for the company. UBS Group cut their price target on Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research note on Wednesday, May 7th. Finally, Barclays cut their price target on Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.17.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at $472,177.83. The trade was a 6.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $54.65 on Friday. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company’s 50 day moving average price is $55.84 and its two-hundred day moving average price is $66.81. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a market cap of $6.57 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.00 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. Fortune Brands Innovations’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.33%.

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.