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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has earned a consensus recommendation of “Hold” from the sixteen analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $51.3077.

A number of equities analysts have commented on the company. Barclays lowered their price objective on Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Robert W. Baird set a $44.00 price objective on Fortune Brands Innovations in a research note on Friday, May 8th. The Goldman Sachs Group lowered their price objective on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Royal Bank Of Canada lowered their price objective on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Finally, Wolfe Research set a $64.00 price objective on Fortune Brands Innovations in a research note on Friday, February 13th.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 403,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $33.40 per share, with a total value of $13,460,200.00. Following the acquisition, the director owned 3,556,867 shares of the company’s stock, valued at approximately $118,799,357.80. This represents a 12.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders acquired 466,300 shares of company stock worth $15,659,238. 3.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors have recently modified their holdings of FBIN. Royal Bank of Canada raised its holdings in shares of Fortune Brands Innovations by 0.8% during the 1st quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock worth $2,539,000 after buying an additional 324 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Fortune Brands Innovations by 20.5% during the 1st quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock worth $629,000 after buying an additional 1,761 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Fortune Brands Innovations by 83.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after buying an additional 388 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Fortune Brands Innovations by 7.6% during the 2nd quarter. Cetera Investment Advisers now owns 10,382 shares of the company’s stock worth $534,000 after buying an additional 731 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $38.94 on Wednesday. The stock’s fifty day moving average price is $38.68 and its two-hundred day moving average price is $47.66. Fortune Brands Innovations has a one year low of $32.34 and a one year high of $64.84. 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 has a market cap of $4.65 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.37.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $0.66 EPS. The company’s revenue was down 2.1% on a year-over-year basis. As a group, research analysts expect that Fortune Brands Innovations will post 3.13 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. Fortune Brands Innovations’s payout ratio is 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.