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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $54.3846.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a research report on Friday, May 8th. Barclays lifted their price objective on Fortune Brands Innovations from $41.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 14th. UBS Group cut their price objective on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Truist Financial upgraded Fortune Brands Innovations from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $70.00 in a research note on Tuesday, June 30th.

Insider Activity

In related news, Director Edward P. Garden acquired 320,067 shares of the stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the completion of the purchase, the director owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. The trade was a 8.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 786,367 shares of company stock valued at $28,653,958 in the last 90 days. Company insiders own 3.32% of the company’s stock.

Institutional Trading of Fortune Brands Innovations

Hedge funds have recently bought and sold shares of the stock. Danske Bank A S acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Fortune Brands Innovations during the fourth quarter worth about $28,000. Cary Street Partners Investment Advisory LLC increased its stake in Fortune Brands Innovations by 1,275.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after acquiring an additional 510 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new position in Fortune Brands Innovations during the first quarter valued at about $30,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Trading Down 2.4%

Shares of FBIN stock opened at $50.24 on Thursday. Fortune Brands Innovations has a 12 month low of $32.34 and a 12 month high of $64.84. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $43.43 and its two-hundred day moving average is $46.67. The company has a market cap of $5.99 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 3.32 and a beta of 1.30.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. Fortune Brands Innovations’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. Equities analysts predict that Fortune Brands Innovations will post 3.14 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 46.22%.

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.