Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Average Rating of “Hold” from Analysts

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $77.17.

Several research analysts recently weighed in on FBIN shares. Wall Street Zen raised shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Truist Financial set a $65.00 price objective on shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Robert W. Baird reduced their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. 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 note on Thursday, May 8th. Finally, Royal Bank Of Canada reduced their price objective 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.

Hedge Funds Weigh In On Fortune Brands Innovations

Institutional investors have recently added to or reduced their stakes in the company. Townsquare Capital LLC increased its holdings in shares of Fortune Brands Innovations by 3.3% in the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company’s stock valued at $380,000 after purchasing an additional 197 shares during the last quarter. National Pension Service increased its holdings in shares of Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after purchasing an additional 199 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Fortune Brands Innovations by 0.6% in the fourth quarter. Arizona State Retirement System now owns 36,048 shares of the company’s stock valued at $2,463,000 after purchasing an additional 213 shares during the last quarter. Baker Ellis Asset Management LLC increased its holdings in shares of Fortune Brands Innovations by 0.4% in the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company’s stock valued at $3,750,000 after purchasing an additional 219 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Fortune Brands Innovations by 28.2% in the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company’s stock valued at $62,000 after purchasing an additional 224 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 1.6%

Shares of NYSE FBIN opened at $53.45 on Friday. The firm has a market capitalization of $6.43 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 2.95 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06. Fortune Brands Innovations has a 1 year low of $47.21 and a 1 year high of $90.54. The firm’s 50-day moving average is $52.11 and its 200-day moving average is $60.05.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $0.83 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. Equities analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, May 27th. Fortune Brands Innovations’s dividend payout ratio is presently 29.33%.

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 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.