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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $89.36.

Several research firms have issued reports on FBIN. BMO Capital Markets upped their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Barclays cut their target price on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. The Goldman Sachs Group decreased their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Robert W. Baird cut their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, Jefferies Financial Group upped their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors have recently added to or reduced their stakes in FBIN. Millennium Management LLC bought a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $9,271,000. Cetera Investment Advisers grew its holdings in Fortune Brands Innovations by 6.9% during the second quarter. Cetera Investment Advisers now owns 15,844 shares of the company’s stock worth $1,029,000 after purchasing an additional 1,022 shares during the period. Sanctuary Advisors LLC acquired a new position in Fortune Brands Innovations during the second quarter worth approximately $433,000. Handelsbanken Fonder AB raised its stake in Fortune Brands Innovations by 50.2% in the third quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company’s stock valued at $3,053,000 after buying an additional 11,400 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Fortune Brands Innovations by 55.8% in the third quarter. GAMMA Investing LLC now owns 1,737 shares of the company’s stock valued at $156,000 after buying an additional 622 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $69.29 on Thursday. The company has a market cap of $8.61 billion, a PE ratio of 19.52, a P/E/G ratio of 2.09 and a beta of 1.50. Fortune Brands Innovations has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The firm has a 50-day simple moving average of $72.70 and a 200 day simple moving average of $78.10. 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 (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. On average, sell-side analysts anticipate that Fortune Brands Innovations will post 4.19 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend 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 is presently 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.