Fortune Brands Innovations (NYSE:FBIN) Rating Increased to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Fortune Brands Innovations (NYSE:FBIN) to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

FBIN has been the subject of several other reports. Barclays dropped their target price on shares of Fortune Brands Innovations from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, May 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $68.00 price objective on shares of Fortune Brands Innovations in a research report on Wednesday, August 5th. Evercore set a $56.00 target price on Fortune Brands Innovations in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.71.

Fortune Brands Innovations Price Performance

FBIN opened at $44.96 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a market capitalization of $5.37 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 3.77 and a beta of 1.31. The stock’s 50 day moving average price is $48.77 and its 200-day moving average price is $45.38. Fortune Brands Innovations has a 52-week low of $32.34 and a 52-week high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.55. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 earnings per share. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, equities research analysts predict that Fortune Brands Innovations will post 3.32 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.04 annualized dividend and a dividend yield of 2.3%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 84.55%.

Insiders Place Their Bets

In related news, Director Edward P. Garden acquired 320,067 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was purchased at an average cost of $40.60 per share, with a total value of $12,994,720.20. Following the completion of the acquisition, the director directly owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. This trade represents a 8.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jesse G. Singh bought 19,560 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were bought at an average price of $50.93 per share, with a total value of $996,190.80. Following the completion of the purchase, the chief executive officer owned 39,285 shares in the company, valued at approximately $2,000,785.05. The trade was a 99.16% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 359,352 shares of company stock valued at $15,009,905. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the business. Danske Bank A S purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after acquiring an additional 323 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in Fortune Brands Innovations by 1,275.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock worth $28,000 after acquiring an additional 510 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Fortune Brands Innovations during the 1st quarter worth $30,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Fortune Brands Innovations by 628.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company’s stock worth $30,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

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.