Fortune Brands Innovations (NYSE:FBIN) Price Target Lowered to $90.00 at UBS Group

Fortune Brands Innovations (NYSE:FBIN) had its price target decreased by UBS Group from $93.00 to $90.00 in a research report report published on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on FBIN. The Goldman Sachs Group dropped their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets raised their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Truist Financial upped their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Barclays reduced their target price on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $86.64.

Fortune Brands Innovations Stock Down 1.2 %

Shares of NYSE FBIN opened at $68.20 on Friday. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.09 and a beta of 1.50. Fortune Brands Innovations has a 52 week low of $62.54 and a 52 week high of $90.54. The firm has a 50-day moving average price of $72.32 and a 200 day moving average price of $78.01. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. Equities research analysts anticipate that Fortune Brands Innovations will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Hedge Funds Weigh In On Fortune Brands Innovations

Several large investors have recently added to or reduced their stakes in FBIN. CIBC Asset Management Inc increased its stake in shares of Fortune Brands Innovations by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock valued at $323,000 after acquiring an additional 121 shares during the last quarter. Smithfield Trust Co raised its stake in Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after purchasing an additional 133 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Fortune Brands Innovations by 1.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after purchasing an additional 138 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Fortune Brands Innovations by 5.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after buying an additional 156 shares during the period. Finally, Wedmont Private Capital increased its holdings in shares of Fortune Brands Innovations by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after buying an additional 164 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 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.