Jim Cramer’s Bold Predictions About These 10 Industrial Stocks

7. Fortune Brands Innovations, Inc. (NYSE:FBIN)

Number of Hedge Fund Holders In Q3 2024: 35

Date of Cramer’s Comments: 8-26-24

Performance Since Then: -14.46%

Fortune Brands Innovations, Inc. (NYSE:FBIN) is a residential home products company. It makes and sells items such as faucets, sinks, railings, and security devices. As a result, the stock depends on the health of the housing industry to generate tailwinds. Year-to-date, the shares have lost 8.32% as they have remained volatile along with investor perceptions of the housing market. One such dip was in November when the stock lost 7.6% in the days following Fortune Brands Innovations, Inc. (NYSE:FBIN)’s third-quarter earnings. The report saw the firm guide its full-year sales downward and miss analyst revenue and earnings estimates of $1.24 billion by posting $1.16 billion. Here’s what Cramer said:

“Please do not forget about a company we showed you last week: Fortune Brands Innovations. This maker of high-end faucets, housing materials, including decking and safety equipment, can really benefit from lower rates, even as it’s done a lot of self-help to thrive in a high-rate environment. I really like their shut-off device that can prevent flooding when you’re away—insurers are embracing the concept, giving you lower homeowner premiums if you buy these setups. They pay for themselves.”