Fortune Brands Innovations (NYSE:FBIN) Shares Gap Up – Should You Buy?

Fortune Brands Innovations, Inc. (NYSE:FBIN)’s share price gapped up before the market opened on Monday . The stock had previously closed at $45.96, but opened at $49.01. Fortune Brands Innovations shares last traded at $49.4340, with a volume of 884,189 shares trading hands.

Analyst Ratings Changes

Several analysts recently weighed in on FBIN shares. BMO Capital Markets decreased their price objective on Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Weiss Ratings downgraded shares of Fortune Brands Innovations from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Royal Bank Of Canada cut their target price on shares of 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. Bank of America reduced their price target on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.31.

Fortune Brands Innovations Trading Up 8.5%

The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $5.95 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.96 and a beta of 1.37. The company has a 50-day moving average price of $39.73 and a 200 day moving average price of $46.63.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, research analysts forecast that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 46.22%.

Insider Buying and Selling at Fortune Brands Innovations

In other news, Director Edward P. Garden acquired 320,067 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were purchased at an average price of $40.60 per share, with a total value of $12,994,720.20. Following the transaction, the director directly owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. This represents a 8.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have bought 786,367 shares of company stock valued at $28,653,958. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC increased its position in Fortune Brands Innovations by 75.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 95,042 shares of the company’s stock valued at $5,074,000 after buying an additional 40,898 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in Fortune Brands Innovations by 7.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company’s stock valued at $27,723,000 after buying an additional 37,861 shares during the last quarter. Black Cypress Capital Management LLC boosted its holdings in Fortune Brands Innovations by 22.6% in the fourth quarter. Black Cypress Capital Management LLC now owns 150,825 shares of the company’s stock worth $7,544,000 after acquiring an additional 27,824 shares in the last quarter. Thematics Asset Management acquired a new stake in Fortune Brands Innovations in the third quarter worth about $12,287,000. Finally, Rafferty Asset Management LLC grew its stake in shares of Fortune Brands Innovations by 118.3% during the third quarter. Rafferty Asset Management LLC now owns 97,063 shares of the company’s stock worth $5,182,000 after acquiring an additional 52,598 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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.