Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus rating of “Hold” from the sixteen brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $51.3077.

FBIN has been the subject of a number of recent research reports. Weiss Ratings cut shares of Fortune Brands Innovations from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. UBS Group reduced their target price on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Bank of America reduced their target price on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their target price on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Finally, BMO Capital Markets reduced their target price on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, April 20th.

Fortune Brands Innovations Trading Up 3.5%

NYSE FBIN opened at $46.20 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. The firm’s fifty day moving average price is $39.58 and its 200 day moving average price is $46.65. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 2.88 and a beta of 1.37. Fortune Brands Innovations has a 12 month low of $32.34 and a 12 month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. Fortune Brands Innovations’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. On average, sell-side analysts expect that Fortune Brands Innovations will post 3.14 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 46.22%.

Insider Activity

In related news, Director Edward P. Garden purchased 403,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average price of $33.40 per share, for a total transaction of $13,460,200.00. Following the acquisition, the director directly owned 3,556,867 shares of the company’s stock, valued at $118,799,357.80. This trade represents a 12.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 786,367 shares of company stock valued at $28,653,958. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Fortune Brands Innovations

Large investors have recently made changes to their positions in the stock. Danske Bank A S purchased a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Fortune Brands Innovations by 1,275.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after purchasing an additional 510 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.