Fortune Brands Innovations (NYSE:FBIN) Sets New 52-Week Low – What’s Next?

Fortune Brands Innovations, Inc. (NYSE:FBIN)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $35.41 and last traded at $35.8510, with a volume of 144917 shares traded. The stock had previously closed at $36.94.

Analyst Ratings Changes

A number of research firms recently weighed in on FBIN. Wolfe Research set a $64.00 target price on shares of Fortune Brands Innovations in a research note on Friday, February 13th. Truist Financial decreased their price objective on Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Bank of America lowered their price objective on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. BMO Capital Markets dropped their target price on Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Finally, UBS Group cut their target price 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. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and a consensus target price of $52.33.

Fortune Brands Innovations Price Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. The firm has a market capitalization of $4.31 billion, a P/E ratio of 16.07, a PEG ratio of 2.25 and a beta of 1.40. The company’s 50 day moving average price is $40.50 and its 200 day moving average price is $48.69.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The firm 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 was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 3.18 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is 46.22%.

Hedge Funds Weigh In On Fortune Brands Innovations

Several hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S bought a new stake in Fortune Brands Innovations during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Fortune Brands Innovations by 1,275.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock worth $28,000 after buying an additional 510 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations during the 1st quarter worth approximately $30,000. 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.