Fortune Brands Innovations (NYSE:FBIN) Releases Earnings Results, Misses Estimates By $0.15 EPS

Fortune Brands Innovations (NYSE:FBIN) posted its earnings results on Thursday. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.15), FiscalAI reports. The company 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 19.28% and a net margin of 7.30%.

Fortune Brands Innovations Price Performance

Shares of FBIN stock traded down $0.74 during trading hours on Thursday, reaching $62.33. 2,679,163 shares of the company were exchanged, compared to its average volume of 2,023,776. Fortune Brands Innovations has a fifty-two week low of $44.04 and a fifty-two week high of $70.05. The stock’s fifty day moving average is $55.02 and its two-hundred day moving average is $54.15. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 5.44 and a beta of 1.41. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.95 and a quick ratio of 0.94.

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Friday, February 20th will be paid a $0.26 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, February 20th. Fortune Brands Innovations’s payout ratio is presently 37.31%.

Analyst Ratings Changes

FBIN has been the subject of several recent analyst reports. Vertical Research assumed coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They set a “hold” rating and a $52.00 price objective for the company. Barclays increased their target price on shares of Fortune Brands Innovations from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. UBS Group cut their price target on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a report on Friday, October 31st. Evercore reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. bought a new position in Fortune Brands Innovations in the 2nd quarter valued at $77,441,000. Jane Street Group LLC raised its position in shares of Fortune Brands Innovations by 4,811.9% during the second quarter. Jane Street Group LLC now owns 766,264 shares of the company’s stock worth $39,447,000 after acquiring an additional 750,664 shares during the last quarter. Freestone Grove Partners LP lifted its stake in shares of Fortune Brands Innovations by 1,390.6% during the third quarter. Freestone Grove Partners LP now owns 800,375 shares of the company’s stock valued at $42,732,000 after acquiring an additional 746,679 shares during the period. Bank of America Corp DE boosted its holdings in Fortune Brands Innovations by 82.7% in the third quarter. Bank of America Corp DE now owns 1,420,708 shares of the company’s stock valued at $75,852,000 after acquiring an additional 643,247 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Fortune Brands Innovations by 339.4% in the second quarter. Squarepoint Ops LLC now owns 749,466 shares of the company’s stock worth $38,583,000 after purchasing an additional 578,882 shares during the period. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Company Profile

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.