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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received an average recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $75.4545.

Several equities analysts have commented on the stock. UBS Group raised their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a report on Friday, August 1st. Truist Financial reissued a “hold” rating and issued a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Barclays raised their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada upgraded shares of Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $59.00 to $65.00 in a research note on Friday, August 1st.

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Nicholas I. Fink sold 1,522 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $58.72, for a total value of $89,371.84. Following the sale, the chief executive officer directly owned 97,139 shares in the company, valued at approximately $5,704,002.08. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds have recently made changes to their positions in the stock. von Borstel & Associates Inc. acquired a new stake in Fortune Brands Innovations during the 1st quarter worth approximately $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Fortune Brands Innovations during the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its position in Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the period. National Pension Service boosted its position in Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after buying an additional 199 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after buying an additional 293 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

FBIN stock opened at $57.40 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. Fortune Brands Innovations has a 12 month low of $47.21 and a 12 month high of $90.54. The firm has a market cap of $6.89 billion, a P/E ratio of 18.05, a P/E/G ratio of 3.91 and a beta of 1.32. The company’s 50-day moving average price is $57.27 and its two-hundred day moving average price is $55.44.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm earned $1.16 EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, August 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 31.45%.

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.