Fortune Brands Innovations (NYSE:FBIN) Upgraded to Strong-Buy at DA Davidson

DA Davidson upgraded shares of Fortune Brands Innovations (NYSE:FBIN) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

A number of other research firms have also commented on FBIN. BMO Capital Markets raised their price objective on Fortune Brands Innovations from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 28th. Evercore set a $56.00 price objective on shares of Fortune Brands Innovations in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. decreased their target price on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Finally, Wells Fargo & Company initiated coverage on shares of Fortune Brands Innovations in a report on Monday. They set an “overweight” rating and a $52.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $55.71.

Fortune Brands Innovations Stock Up 1.7%

FBIN stock opened at $45.74 on Monday. Fortune Brands Innovations has a 1-year low of $32.34 and a 1-year high of $64.84. The business’s 50 day simple moving average is $48.83 and its 200 day simple moving average is $45.27. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $5.46 billion, a PE ratio of 37.19, a PEG ratio of 3.80 and a beta of 1.31.

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

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Friday, August 21st will be issued 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 payout ratio is 84.55%.

Insider Activity at Fortune Brands Innovations

In other news, CEO Jesse G. Singh acquired 19,725 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $51.66 per share, with a total value of $1,018,993.50. Following the acquisition, the chief executive officer directly owned 19,725 shares in the company, valued at $1,018,993.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Edward P. Garden bought 320,067 shares of the stock in a transaction on 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 acquisition, the director owned 3,940,234 shares in the company, valued at approximately $159,973,500.40. This represents a 8.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 359,352 shares of company stock valued at $15,009,905. 3.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of hedge funds have recently made changes to their positions in FBIN. Royal Bank of Canada lifted its holdings in Fortune Brands Innovations by 0.8% in the first quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock valued at $2,539,000 after buying an additional 324 shares during the period. Empowered Funds LLC boosted its position in shares of Fortune Brands Innovations by 20.5% during the 1st quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock valued at $629,000 after purchasing an additional 1,761 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after purchasing an additional 388 shares during the period. Cetera Investment Advisers increased its holdings in Fortune Brands Innovations by 7.6% in the second quarter. Cetera Investment Advisers now owns 10,382 shares of the company’s stock worth $534,000 after purchasing an additional 731 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after buying an additional 323 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Company Profile

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.