Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Average Rating of “Hold” by Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus rating of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $91.36.

Several analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI dropped their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets increased their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group lifted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group lowered their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

Fortune Brands Innovations Trading Down 0.5 %

NYSE FBIN opened at $69.00 on Friday. Fortune Brands Innovations has a one year low of $62.54 and a one year high of $90.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The business has a 50 day simple moving average of $74.62 and a 200 day simple moving average of $77.41. The stock has a market capitalization of $8.57 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.43 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the company posted $1.19 earnings per share. Research analysts expect 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 an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is presently 28.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FBIN. Nordea Investment Management AB lifted its position in Fortune Brands Innovations by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after buying an additional 35,289 shares during the period. Everence Capital Management Inc. purchased a new position in Fortune Brands Innovations during the 4th quarter valued at about $280,000. Retirement Systems of Alabama boosted its stake in Fortune Brands Innovations by 0.5% during the third quarter. Retirement Systems of Alabama now owns 300,897 shares of the company’s stock worth $26,939,000 after acquiring an additional 1,622 shares in the last quarter. Tidal Investments LLC grew its holdings in Fortune Brands Innovations by 10.9% in the third quarter. Tidal Investments LLC now owns 3,639 shares of the company’s stock worth $326,000 after purchasing an additional 359 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Fortune Brands Innovations during the third quarter valued at $229,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Company Profile

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.