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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has earned an average rating of “Hold” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $91.36.

Several research firms have recently commented on FBIN. Evercore ISI reduced their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research 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 report on Thursday, November 7th. Robert W. Baird dropped their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group upped their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets lifted their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBIN. Brooklyn Investment Group purchased a new position in shares of Fortune Brands Innovations in the third quarter worth $25,000. Family Firm Inc. bought a new stake in Fortune Brands Innovations in the 2nd quarter valued at $31,000. Brown Brothers Harriman & Co. lifted its stake in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Fortune Brands Innovations during the 2nd quarter valued at about $54,000. Finally, Blue Trust Inc. grew its position in shares of Fortune Brands Innovations by 37.0% during the second quarter. Blue Trust Inc. now owns 899 shares of the company’s stock valued at $58,000 after purchasing an additional 243 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Trading Up 1.6 %

Shares of FBIN stock opened at $69.67 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations has a 12-month low of $62.54 and a 12-month high of $90.54. The stock has a market capitalization of $8.65 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.51 and a beta of 1.47. The firm’s 50 day moving average is $80.05 and its 200 day moving average is $77.20.

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

Fortune Brands Innovations Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, February 21st. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is 28.17%.

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.