Fortune Brands Innovations (NYSE:FBIN) Receives “Hold (C-)” Rating from Weiss Ratings

Weiss Ratings restated their hold (c-) rating on shares of Fortune Brands Innovations (NYSE:FBIN) in a research note published on Tuesday,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on FBIN. Royal Bank Of Canada upgraded Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $59.00 to $65.00 in a report on Friday, August 1st. UBS Group raised their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Loop Capital restated a “hold” rating and issued a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Barclays raised their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Truist Financial restated a “hold” rating and issued a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.90.

Fortune Brands Innovations Trading Up 3.6%

NYSE FBIN opened at $49.83 on Tuesday. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 3.31 and a beta of 1.33. Fortune Brands Innovations has a 52 week low of $47.21 and a 52 week high of $90.50. The business has a 50 day moving average price of $56.32 and a 200-day moving average price of $54.11. 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 (NYSE:FBIN) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Fortune Brands Innovations’s 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. As a group, equities analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, November 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is 31.45%.

Insider Activity

In other news, CEO Nicholas I. Fink sold 29,792 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $59.04, for a total value of $1,758,919.68. Following the transaction, the chief executive officer directly owned 180,625 shares in the company, valued at $10,664,100. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth $267,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Fortune Brands Innovations by 8.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company’s stock worth $16,555,000 after buying an additional 20,206 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth $1,106,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fortune Brands Innovations by 15.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company’s stock worth $763,000 after buying an additional 1,660 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its stake in shares of Fortune Brands Innovations by 28.2% in the 1st quarter. Achmea Investment Management B.V. now owns 74,172 shares of the company’s stock worth $4,515,000 after buying an additional 16,318 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.