Fortune Brands Innovations (FBIN) – Investment Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Fortune Brands Innovations (NYSE: FBIN):

• 10/26/2023 – Fortune Brands Innovations had its price target lowered by analysts at Royal Bank of Canada from $74.00 to $63.00. They now have a “sector perform” rating on the stock.
• 10/26/2023 – Fortune Brands Innovations had its price target lowered by analysts at Barclays PLC from $74.00 to $66.00. They now have an “overweight” rating on the stock.
• 10/26/2023 – Fortune Brands Innovations had its price target lowered by analysts at Truist Financial Co. from $75.00 to $65.00. They now have a “buy” rating on the stock.
• 10/26/2023 – Fortune Brands Innovations had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $77.00 to $68.00. They now have a “buy” rating on the stock.
• 10/17/2023 – Fortune Brands Innovations had its price target lowered by analysts at Truist Financial Co. from $90.00 to $75.00. They now have a “buy” rating on the stock.
• 10/12/2023 – Fortune Brands Innovations had its price target lowered by analysts at Barclays PLC from $89.00 to $74.00. They now have an “overweight” rating on the stock.
• 10/12/2023 – Fortune Brands Innovations had its price target lowered by analysts at Jefferies Financial Group Inc. from $90.00 to $88.00.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $61.00 on Monday. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 3.36 and a beta of 1.54. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.80 and a quick ratio of 1.02. The business has a fifty day moving average of $61.29 and a 200 day moving average of $65.65. Fortune Brands Innovations, Inc. has a 1 year low of $49.51 and a 1 year high of $77.14.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Friday, November 24th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.92 annualized dividend and a dividend yield of 1.51%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.22%.

Hedge Funds Weigh In On Fortune Brands Innovations

Several institutional investors and hedge funds have recently modified their holdings of FBIN. BlackRock Inc. purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $1,052,123,000. JPMorgan Chase & Co. purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $392,938,000. State Street Corp purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $365,010,000. Holocene Advisors LP purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $193,486,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $142,667,000. Institutional investors and hedge funds own 87.20% of the company’s stock.

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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.