Fortune Brands Innovations (NYSE:FBIN) Stock Gets Price Target Reduction from Royal Bank Of Canada

Fortune Brands Innovations (NYSE:FBIN) had its target price trimmed by Royal Bank Of Canada from $57.00 to $49.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the company. BMO Capital Markets boosted their price target on Fortune Brands Innovations from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Wells Fargo & Company cut their price objective on Fortune Brands Innovations from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Barclays reduced their price objective on Fortune Brands Innovations from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Zacks Research upgraded Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, UBS Group increased their target price on shares of Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $52.62.

Fortune Brands Innovations Stock Down 0.6%

Shares of FBIN opened at $39.05 on Wednesday. The firm has a market cap of $4.66 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31. The company’s fifty day moving average is $43.25 and its two-hundred day moving average is $42.84. Fortune Brands Innovations has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 1.11.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.55. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. Analysts forecast that Fortune Brands Innovations will post 3.33 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Friday, November 20th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.04 annualized dividend and a yield of 2.7%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 84.55%.

Insider Activity at Fortune Brands Innovations

In related news, CEO Jesse Singh bought 19,725 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $51.66 per share, with a total value of $1,018,993.50. Following the completion of the transaction, the chief executive officer directly owned 19,725 shares of the company’s stock, valued at approximately $1,018,993.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds have recently modified their holdings of FBIN. Community Bank N.A. boosted its stake in shares of Fortune Brands Innovations by 59.4% in the second quarter. Community Bank N.A. now owns 765 shares of the company’s stock valued at $42,000 after purchasing an additional 285 shares during the period. Parallel Advisors LLC increased its stake in Fortune Brands Innovations by 31.8% during the 1st quarter. Parallel Advisors LLC now owns 1,247 shares of the company’s stock worth $49,000 after buying an additional 301 shares during the period. IMA Advisory Services Inc. lifted its holdings in Fortune Brands Innovations by 3.3% in the 1st quarter. IMA Advisory Services Inc. now owns 9,713 shares of the company’s stock worth $379,000 after buying an additional 306 shares in the last quarter. Allworth Financial LP boosted its position in Fortune Brands Innovations by 9.7% in the 2nd quarter. Allworth Financial LP now owns 3,521 shares of the company’s stock valued at $193,000 after buying an additional 311 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Fortune Brands Innovations by 17.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,633 shares of the company’s stock valued at $145,000 after buying an additional 397 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc is a manufacturer and marketer of products used in residential construction, renovation and outdoor living. The company operates a portfolio of brands focused on water, doors, outdoor living and home security products.

Its water-related products include faucets, showers and other plumbing fixtures marketed under brands such as Moen, House of Rohl, ROHL, Perrin & Rowe and Aqualisa. Its doors and outdoor living businesses offer entry doors, storm and screen doors, decking, railing, fencing and related building products through brands including Therma-Tru, Larson, Fiberon and Fypon.