Brokerages Set Fortune Brands Innovations, Inc. (NYSE:FBIN) PT at $91.36

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received an average rating of “Hold” from the twelve analysts that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $91.36.

FBIN has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group dropped their price objective on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Evercore ISI reduced their target price on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. BMO Capital Markets upped their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th.

Institutional Trading of Fortune Brands Innovations

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in Fortune Brands Innovations by 99.2% during the second quarter. SG Americas Securities LLC now owns 5,895 shares of the company’s stock worth $383,000 after purchasing an additional 2,935 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Fortune Brands Innovations by 10.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,698 shares of the company’s stock valued at $565,000 after acquiring an additional 848 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Fortune Brands Innovations by 10.4% during the second quarter. Assenagon Asset Management S.A. now owns 10,803 shares of the company’s stock valued at $702,000 after purchasing an additional 1,015 shares in the last quarter. Blue Trust Inc. lifted its stake in Fortune Brands Innovations by 37.0% during the second quarter. Blue Trust Inc. now owns 899 shares of the company’s stock worth $58,000 after purchasing an additional 243 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Fortune Brands Innovations by 5.8% in the 2nd quarter. Raymond James & Associates now owns 39,218 shares of the company’s stock valued at $2,547,000 after purchasing an additional 2,137 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Up 1.6 %

Fortune Brands Innovations stock opened at $69.67 on Wednesday. Fortune Brands Innovations has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The firm has a market capitalization of $8.65 billion, a PE ratio of 19.63, a P/E/G ratio of 2.51 and a beta of 1.47. The company’s 50-day moving average is $80.41 and its 200-day moving average is $77.13. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Fortune Brands Innovations will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.25 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s payout ratio is 28.17%.

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.