Barclays Has Lowered Expectations for Fortune Brands Innovations (NYSE:FBIN) Stock Price

Fortune Brands Innovations (NYSE:FBIN) had its price objective cut by Barclays from $91.00 to $79.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on FBIN. Royal Bank of Canada dropped their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday. BMO Capital Markets increased their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial boosted their price objective 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. The Goldman Sachs Group dropped their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI reduced their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $86.64.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $68.20 on Friday. The firm’s 50 day simple moving average is $72.32 and its 200 day simple moving average is $78.12. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.01 and a beta of 1.50. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations has a 1 year low of $62.54 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.25% and a net margin of 10.24%. As a group, research analysts expect that Fortune Brands Innovations will post 4.53 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders 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 1.47%. The ex-dividend date is Friday, February 21st. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio is currently 25.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its stake in Fortune Brands Innovations by 812.5% during the fourth quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock worth $2,292,000 after buying an additional 29,867 shares during the last quarter. Nordea Investment Management AB grew its holdings in Fortune Brands Innovations by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after acquiring an additional 35,289 shares during the period. KBC Group NV raised its position in shares of Fortune Brands Innovations by 30.9% in the 4th quarter. KBC Group NV now owns 163,466 shares of the company’s stock worth $11,169,000 after acquiring an additional 38,546 shares in the last quarter. Trust Point Inc. acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $319,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $208,000. 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.