Fortune Brands Innovations (NYSE:FBIN) Reaches New 12-Month Low – Here’s Why

Fortune Brands Innovations, Inc. (NYSE:FBIN)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $46.87 and last traded at $47.1040, with a volume of 216139 shares trading hands. The stock had previously closed at $48.01.

Analysts Set New Price Targets

Several research analysts have recently commented on FBIN shares. Vertical Research assumed coverage on Fortune Brands Innovations in a report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 price objective on the stock. Evercore ISI restated an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. UBS Group lowered their price objective on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Loop Capital reissued a “hold” rating and issued a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Finally, Barclays lowered their price target on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average price target of $64.40.

Fortune Brands Innovations Trading Down 3.4%

The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.57 billion, a PE ratio of 14.58, a PEG ratio of 4.37 and a beta of 1.32. The stock has a 50 day moving average price of $52.45 and a 200 day moving average price of $53.62.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.01). Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $1.16 EPS. Fortune Brands Innovations’s revenue for the quarter was down .5% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 2.2%. Fortune Brands Innovations’s payout ratio is presently 37.31%.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds have recently made changes to their positions in FBIN. EntryPoint Capital LLC bought a new position in Fortune Brands Innovations in the 1st quarter worth about $267,000. JPMorgan Chase & Co. lifted its stake in shares of Fortune Brands Innovations by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company’s stock worth $295,598,000 after buying an additional 409,466 shares in the last quarter. Fiduciary Management Inc. WI grew its holdings in shares of Fortune Brands Innovations by 12.8% during the first quarter. Fiduciary Management Inc. WI now owns 2,291,860 shares of the company’s stock valued at $139,528,000 after buying an additional 260,218 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Fortune Brands Innovations during the first quarter valued at approximately $419,000. Finally, Alpha Omega Wealth Management LLC raised its holdings in Fortune Brands Innovations by 64.2% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 44,841 shares of the company’s stock worth $2,308,000 after acquiring an additional 17,526 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

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.