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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $77.17.

A number of analysts recently weighed in on FBIN shares. Barclays reduced their price objective on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Robert W. Baird lowered their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target on the stock. Royal Bank of Canada lowered their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 7th. Finally, Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th.

Insider Activity at Fortune Brands Innovations

In related news, EVP Kristin Papesh acquired 483 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Fortune Brands Innovations

Several hedge funds have recently bought and sold shares of FBIN. Vanguard Group Inc. raised its position in shares of Fortune Brands Innovations by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock worth $821,840,000 after buying an additional 68,404 shares in the last quarter. Wellington Management Group LLP grew its position in Fortune Brands Innovations by 113.5% during the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock valued at $373,079,000 after purchasing an additional 3,257,428 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Fortune Brands Innovations by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company’s stock worth $295,598,000 after buying an additional 409,466 shares during the last quarter. Amundi lifted its stake in shares of Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company’s stock worth $169,975,000 after buying an additional 555,036 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Fortune Brands Innovations by 22.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company’s stock worth $143,130,000 after acquiring an additional 426,929 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $55.59 on Friday. The stock’s 50 day simple moving average is $55.72 and its two-hundred day simple moving average is $66.61. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations has a fifty-two week low of $47.21 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 EPS. As a group, analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. Fortune Brands Innovations’s dividend payout ratio is presently 29.33%.

About Fortune Brands Innovations

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.