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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $91.36.

Several brokerages recently weighed in on FBIN. Jefferies Financial Group increased their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets increased their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Barclays upped their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI cut their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, Robert W. Baird dropped their target price on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th.

Fortune Brands Innovations Stock Up 0.4 %

Shares of FBIN opened at $78.31 on Friday. The firm has a market cap of $9.73 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.50 and a beta of 1.51. Fortune Brands Innovations has a 1 year low of $62.54 and a 1 year high of $90.54. The stock has a 50 day simple moving average of $83.75 and a two-hundred day simple moving average of $76.59. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the company earned $1.19 EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. On average, analysts forecast that Fortune Brands Innovations will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 27.04%.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of Fortune Brands Innovations by 1,074.0% during the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock valued at $2,426,000 after purchasing an additional 34,184 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Fortune Brands Innovations by 17.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock valued at $5,052,000 after buying an additional 8,836 shares during the last quarter. Qsemble Capital Management LP boosted its holdings in Fortune Brands Innovations by 1,091.8% in the second quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock worth $1,848,000 after acquiring an additional 26,071 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the second quarter worth $421,000. Finally, Teca Partners LP increased its holdings in shares of Fortune Brands Innovations by 165.0% during the second quarter. Teca Partners LP now owns 233,229 shares of the company’s stock valued at $15,146,000 after acquiring an additional 145,229 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Company Profile

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.