Fortune Brands Innovations (NYSE:FBIN) Now Covered by Melius Research

Melius Research began coverage on shares of Fortune Brands Innovations (NYSE:FBIN) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $44.00 price target on the stock.

Several other equities analysts have also recently weighed in on FBIN. Truist Financial upgraded shares of Fortune Brands Innovations from a “hold” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $70.00 in a research note on Tuesday, June 30th. Wells Fargo & Company cut their target price on shares of Fortune Brands Innovations from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Weiss Ratings raised shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Evercore set a $45.00 price target on shares of Fortune Brands Innovations in a research report on Friday, September 25th. Finally, Zacks Research upgraded shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $53.47.

Fortune Brands Innovations Stock Up 1.7%

Fortune Brands Innovations stock opened at $39.31 on Tuesday. Fortune Brands Innovations has a one year low of $32.34 and a one year high of $64.84. The stock has a fifty day moving average of $43.87 and a 200 day moving average of $42.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a market cap of $4.69 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 1.71 and a beta of 1.31.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.55. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. As a group, sell-side analysts predict that Fortune Brands Innovations will post 3.33 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 20th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, November 20th. Fortune Brands Innovations’s payout ratio is presently 84.55%.

Insider Activity

In other news, CEO Jesse Singh bought 19,725 shares of Fortune Brands Innovations stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $51.66 per share, with a total value of $1,018,993.50. Following the acquisition, the chief executive officer owned 19,725 shares of the company’s stock, valued at $1,018,993.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Fortune Brands Innovations

Several large investors have recently added to or reduced their stakes in the company. Park National Corp OH bought a new position in shares of Fortune Brands Innovations in the third quarter worth approximately $201,000. Altar Rock LLC bought a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at $200,000. Sequoia Financial Advisors LLC purchased a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at $1,260,000. Tidal Investments LLC lifted its stake in shares of Fortune Brands Innovations by 42.0% during the 2nd quarter. Tidal Investments LLC now owns 25,805 shares of the company’s stock valued at $1,417,000 after buying an additional 7,638 shares in the last quarter. Finally, Community Bank N.A. boosted its holdings in Fortune Brands Innovations by 59.4% in the 2nd quarter. Community Bank N.A. now owns 765 shares of the company’s stock worth $42,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc is a manufacturer and marketer of products used in residential construction, renovation and outdoor living. The company operates a portfolio of brands focused on water, doors, outdoor living and home security products.

Its water-related products include faucets, showers and other plumbing fixtures marketed under brands such as Moen, House of Rohl, ROHL, Perrin & Rowe and Aqualisa. Its doors and outdoor living businesses offer entry doors, storm and screen doors, decking, railing, fencing and related building products through brands including Therma-Tru, Larson, Fiberon and Fypon.