Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $89.36.

A number of equities analysts have weighed in on FBIN shares. Truist Financial upped their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird decreased their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Evercore ISI lowered their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $74.76 on Friday. Fortune Brands Innovations has a 1-year low of $62.54 and a 1-year high of $90.54. 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 firm has a market cap of $9.29 billion, a PE ratio of 21.06, a P/E/G ratio of 2.05 and a beta of 1.49. The business’s 50-day moving average price is $73.72 and its two-hundred day moving average price is $77.72.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. As a group, research analysts forecast that Fortune Brands Innovations will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. This is a positive change 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 (DPR) is currently 28.17%.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of large investors have recently added to or reduced their stakes in FBIN. Choreo LLC lifted its position in Fortune Brands Innovations by 4.7% during the second quarter. Choreo LLC now owns 5,970 shares of the company’s stock worth $377,000 after purchasing an additional 269 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Fortune Brands Innovations by 7.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the company’s stock valued at $571,000 after buying an additional 600 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Fortune Brands Innovations by 6.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 63,946 shares of the company’s stock worth $4,181,000 after acquiring an additional 3,593 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Fortune Brands Innovations by 44.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 6,502 shares of the company’s stock valued at $422,000 after purchasing an additional 1,996 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Fortune Brands Innovations by 30.7% during the second quarter. Envestnet Asset Management Inc. now owns 36,582 shares of the company’s stock worth $2,376,000 after purchasing an additional 8,590 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Company 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.