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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been given a consensus rating of “Hold” by the sixteen analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $54.3846.

A number of analysts have recently weighed in on FBIN shares. Robert W. Baird set a $44.00 target price on shares of Fortune Brands Innovations in a report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. The Goldman Sachs Group upped their price target on Fortune Brands Innovations from $50.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Bank of America dropped their price objective on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a report on Monday, April 20th. Finally, Weiss Ratings upgraded Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd.

Insiders Place Their Bets

In related news, Director Edward P. Garden purchased 320,067 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the completion of the acquisition, the director directly owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. The trade was a 8.84% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 786,367 shares of company stock valued at $28,653,958 in the last quarter. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of large investors have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. grew its holdings in Fortune Brands Innovations by 7.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company’s stock worth $27,723,000 after purchasing an additional 37,861 shares during the period. Black Cypress Capital Management LLC increased its stake in shares of Fortune Brands Innovations by 22.6% during the fourth quarter. Black Cypress Capital Management LLC now owns 150,825 shares of the company’s stock valued at $7,544,000 after purchasing an additional 27,824 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fortune Brands Innovations by 2,071.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 147,689 shares of the company’s stock valued at $7,387,000 after purchasing an additional 140,888 shares during the last quarter. Systematic Financial Management LP bought a new stake in shares of Fortune Brands Innovations in the 4th quarter worth approximately $14,328,000. Finally, Vulcan Value Partners LLC boosted its position in shares of Fortune Brands Innovations by 18.2% in the 4th quarter. Vulcan Value Partners LLC now owns 353,520 shares of the company’s stock worth $17,683,000 after purchasing an additional 54,492 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 1.3%

NYSE:FBIN opened at $50.22 on Thursday. The company has a fifty day moving average of $43.97 and a 200 day moving average of $46.67. Fortune Brands Innovations has a 52 week low of $32.34 and a 52 week high of $64.84. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $5.99 billion, a P/E ratio of 22.32, a P/E/G ratio of 3.20 and a beta of 1.30.

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

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 46.22%.

Fortune Brands Innovations Company Profile

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.