Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) PT at $71.90

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned an average rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $71.90.

A number of equities research analysts have recently issued reports on FBIN shares. Barclays upped their target price on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Truist Financial restated a “hold” rating and set a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Royal Bank Of Canada upgraded Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $59.00 to $65.00 in a research report on Friday, August 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Tuesday, October 14th. Finally, Loop Capital reissued a “hold” rating and set a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th.

Insider Buying and Selling

In other news, CEO Nicholas I. Fink sold 29,792 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer directly owned 180,625 shares of the company’s stock, valued at approximately $10,664,100. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Fortune Brands Innovations by 113.5% during the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock valued at $373,079,000 after acquiring an additional 3,257,428 shares during the period. Qube Research & Technologies Ltd bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at about $87,611,000. Generation Investment Management LLP acquired a new position in Fortune Brands Innovations during the 1st quarter valued at about $98,157,000. Norges Bank acquired a new position in Fortune Brands Innovations during the 2nd quarter valued at about $78,395,000. Finally, Balyasny Asset Management L.P. bought a new position in Fortune Brands Innovations in the 2nd quarter worth about $77,441,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $50.92 on Tuesday. Fortune Brands Innovations has a 52 week low of $47.21 and a 52 week high of $89.98. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The stock has a market cap of $6.11 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. The stock has a 50 day moving average of $55.84 and a 200-day moving average of $53.86.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted $1.16 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio is 31.45%.

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.