Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Average Recommendation of “Hold” from Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has earned an average recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $91.36.

FBIN has been the subject of a number of recent research reports. Barclays raised their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Truist Financial increased their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. UBS Group reduced their target price on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors have recently added to or reduced their stakes in FBIN. Select Equity Group L.P. grew its holdings in shares of Fortune Brands Innovations by 48.8% during the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after purchasing an additional 2,075,673 shares in the last quarter. FMR LLC grew its stake in Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after buying an additional 3,024,950 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Fortune Brands Innovations by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock worth $119,501,000 after buying an additional 167,758 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Fortune Brands Innovations by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock worth $89,507,000 after buying an additional 24,139 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Fortune Brands Innovations by 11.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock valued at $111,650,000 after buying an additional 130,170 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Trading Up 0.4 %

NYSE FBIN opened at $78.31 on Friday. The business’s fifty day moving average is $83.75 and its 200-day moving average is $76.59. 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 stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 2.50 and a beta of 1.51. Fortune Brands Innovations has a one year low of $62.54 and a one year high of $90.54.

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

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is 27.04%.

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.