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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $51.3077.

FBIN has been the topic of several research analyst reports. Robert W. Baird set a $44.00 price objective on Fortune Brands Innovations in a research report on Friday, May 8th. BMO Capital Markets cut their price objective on Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Royal Bank Of Canada cut their price objective on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Wolfe Research set a $64.00 price target on Fortune Brands Innovations in a research report on Friday, February 13th. Finally, Zelman & Associates cut Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research report on Friday, February 13th.

Fortune Brands Innovations Trading Up 0.3%

Shares of Fortune Brands Innovations stock opened at $39.20 on Wednesday. The stock has a fifty day simple moving average of $38.64 and a 200 day simple moving average of $47.59. Fortune Brands Innovations has a 12-month low of $32.34 and a 12-month high of $64.84. The company has a market capitalization of $4.68 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 2.53 and a beta of 1.37. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. Fortune Brands Innovations’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Fortune Brands Innovations will post 3.13 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 46.22%.

Insider Activity at Fortune Brands Innovations

In related news, Director Edward P. Garden acquired 403,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $33.40 per share, for a total transaction of $13,460,200.00. Following the purchase, the director owned 3,556,867 shares in the company, valued at $118,799,357.80. This trade represents a 12.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders acquired 466,300 shares of company stock worth $15,659,238. 3.32% of the stock is owned by corporate insiders.

Institutional Trading of Fortune Brands Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Danske Bank A S bought a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC increased its stake in Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Fortune Brands Innovations in the 4th quarter worth about $28,000. Cary Street Partners Investment Advisory LLC increased its stake in Fortune Brands Innovations by 1,275.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock worth $28,000 after acquiring an additional 510 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Fortune Brands Innovations in the 1st quarter worth about $30,000. 87.60% of the stock is currently owned by institutional investors.

About Fortune Brands Innovations

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.