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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have received an average rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $91.36.

FBIN has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI lowered their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Robert W. Baird decreased their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, BMO Capital Markets boosted their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors have recently added to or reduced their stakes in FBIN. Nordea Investment Management AB increased its position in Fortune Brands Innovations by 1.9% in the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after acquiring an additional 35,289 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at about $280,000. Retirement Systems of Alabama lifted its stake in shares of Fortune Brands Innovations by 0.5% in the third quarter. Retirement Systems of Alabama now owns 300,897 shares of the company’s stock worth $26,939,000 after acquiring an additional 1,622 shares during the period. Tidal Investments LLC boosted its holdings in Fortune Brands Innovations by 10.9% in the third quarter. Tidal Investments LLC now owns 3,639 shares of the company’s stock valued at $326,000 after acquiring an additional 359 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Fortune Brands Innovations during the 3rd quarter valued at approximately $229,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

FBIN opened at $69.00 on Friday. The firm’s 50-day moving average price is $74.62 and its 200-day moving average price is $77.41. The company has a market cap of $8.57 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 2.43 and a beta of 1.49. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations has a 52-week low of $62.54 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion during 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 business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. As a group, equities analysts anticipate that Fortune Brands Innovations will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.25 per share. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is currently 28.17%.

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.