Fortune Brands Innovations (NYSE:FBIN) Given New $61.00 Price Target at The Goldman Sachs Group

Fortune Brands Innovations (NYSE:FBIN) had its price target cut by The Goldman Sachs Group from $69.00 to $61.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on FBIN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday, December 29th. Zelman & Associates downgraded shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a report on Friday. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Fortune Brands Innovations in a research report on Friday. Wolfe Research set a $64.00 price objective on shares of Fortune Brands Innovations in a research note on Friday. Finally, Vertical Research started coverage on shares of Fortune Brands Innovations in a report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.00.

Fortune Brands Innovations Trading Up 2.9%

Fortune Brands Innovations stock opened at $52.82 on Tuesday. Fortune Brands Innovations has a 12-month low of $44.04 and a 12-month high of $69.32. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.84 and a quick ratio of 0.89. The stock has a market capitalization of $6.35 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 4.99 and a beta of 1.41. The firm has a 50 day simple moving average of $55.39 and a 200-day simple moving average of $54.11.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, February 12th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.14). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a return on equity of 18.54% and a net margin of 6.70%.Fortune Brands Innovations’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. As a group, equities research analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Friday, February 20th will be issued a $0.26 dividend. The ex-dividend date is Friday, February 20th. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio is 40.49%.

Hedge Funds Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd boosted its position in shares of Fortune Brands Innovations by 586.7% in the fourth quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock worth $363,760,000 after buying an additional 6,213,274 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Fortune Brands Innovations during the 2nd quarter worth about $87,611,000. Norges Bank purchased a new position in Fortune Brands Innovations during the 4th quarter valued at about $83,796,000. Bank of New York Mellon Corp increased its holdings in shares of Fortune Brands Innovations by 147.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,691,827 shares of the company’s stock valued at $143,717,000 after purchasing an additional 1,605,453 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Fortune Brands Innovations in the second quarter worth approximately $77,441,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.