Brokerages Set Fortune Brands Innovations, Inc. (NYSE:FBIN) PT at $77.17

Fortune Brands Innovations, Inc. (NYSE:FBIN) has earned an average rating of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $77.17.

A number of equities analysts have recently weighed in on FBIN shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price objective for the company. Robert W. Baird cut their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of Fortune Brands Innovations from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays cut their price objective on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Finally, Truist Financial set a $65.00 price objective on shares of Fortune Brands Innovations in a research report on Wednesday, May 7th.

Insider Buying and Selling

In related news, EVP Kristin Papesh purchased 483 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This trade represents a 6.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% 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 FBIN. Wellington Management Group LLP grew its stake in Fortune Brands Innovations by 113.5% during the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock worth $373,079,000 after buying an additional 3,257,428 shares during the period. Generation Investment Management LLP purchased a new stake in Fortune Brands Innovations during the first quarter worth approximately $98,157,000. Norges Bank purchased a new stake in Fortune Brands Innovations during the fourth quarter worth approximately $101,122,000. Amundi grew its stake in Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after buying an additional 1,442,195 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in Fortune Brands Innovations during the fourth quarter worth approximately $59,970,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $50.25 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock has a market cap of $6.04 billion, a P/E ratio of 13.40, a PEG ratio of 2.00 and a beta of 1.49. The company has a 50-day moving average of $54.73 and a two-hundred day moving average of $65.51. Fortune Brands Innovations has a 12-month low of $47.21 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. As a group, research analysts predict that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.99%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations’s dividend payout ratio (DPR) is 29.33%.

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.