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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have received a consensus rating of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $67.75.

Several research firms recently commented on FBIN. Truist Financial reduced their price target on shares of Fortune Brands Innovations from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, October 26th. BMO Capital Markets increased their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Jefferies Financial Group lowered their price target on Fortune Brands Innovations from $90.00 to $88.00 in a report on Thursday, October 12th. Royal Bank of Canada reduced their price objective on Fortune Brands Innovations from $74.00 to $63.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. Finally, Barclays lowered their target price on Fortune Brands Innovations from $74.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, October 26th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Fortune Brands Innovations in the second quarter valued at about $1,052,123,000. JPMorgan Chase & Co. purchased a new position in Fortune Brands Innovations in the 2nd quarter valued at approximately $392,938,000. State Street Corp acquired a new position in Fortune Brands Innovations during the second quarter worth $365,010,000. Holocene Advisors LP purchased a new stake in Fortune Brands Innovations during the second quarter worth $193,486,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Fortune Brands Innovations in the second quarter valued at $142,667,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Fortune Brands Innovations Price Performance

FBIN stock opened at $59.83 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $7.54 billion, a P/E ratio of 17.70, a PEG ratio of 3.36 and a beta of 1.54. The business has a 50 day simple moving average of $61.09 and a 200-day simple moving average of $65.62. Fortune Brands Innovations has a twelve month low of $49.51 and a twelve month high of $77.14.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Wednesday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.22%.

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 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.