Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) PT at $80.38

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been assigned an average rating of “Hold” from the nine research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $80.38.

A number of research analysts recently issued reports on FBIN shares. Robert W. Baird lifted their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI decreased their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 1st.

Fortune Brands Innovations Stock Performance

FBIN opened at $64.93 on Wednesday. The firm has a market cap of $8.12 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 1.80 and a beta of 1.57. The business’s fifty day moving average is $70.17 and its 200-day moving average is $75.92. Fortune Brands Innovations has a 52-week low of $54.10 and a 52-week high of $84.92. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. Sell-side analysts expect that Fortune Brands Innovations will post 4.31 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, May 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

Hedge Funds Weigh In On Fortune Brands Innovations

Large investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its stake in shares of Fortune Brands Innovations by 17.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock valued at $5,052,000 after acquiring an additional 8,836 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in Fortune Brands Innovations in the first quarter valued at $51,000. PGGM Investments raised its position in Fortune Brands Innovations by 412.6% during the 1st quarter. PGGM Investments now owns 43,628 shares of the company’s stock worth $3,694,000 after purchasing an additional 35,117 shares during the last quarter. Swedbank AB acquired a new position in Fortune Brands Innovations during the 1st quarter worth about $4,884,000. Finally, LRI Investments LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at about $34,000. 87.60% of the stock is currently owned by 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.