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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been given an average rating of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $71.90.

Several research firms have weighed in on FBIN. Truist Financial reaffirmed a “hold” rating and set a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Barclays lifted their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Royal Bank Of Canada raised Fortune Brands Innovations from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $59.00 to $65.00 in a research note on Friday, August 1st. Loop Capital reaffirmed a “hold” rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Finally, UBS Group lifted their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, August 1st.

Insider Activity at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 1,522 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $58.72, for a total value of $89,371.84. Following the completion of the sale, the chief executive officer owned 97,139 shares of the company’s stock, valued at approximately $5,704,002.08. The trade was a 1.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Large investors have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $267,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Fortune Brands Innovations by 8.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company’s stock worth $16,555,000 after purchasing an additional 20,206 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Fortune Brands Innovations in the 1st quarter worth approximately $1,106,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Fortune Brands Innovations by 15.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company’s stock worth $763,000 after purchasing an additional 1,660 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its holdings in Fortune Brands Innovations by 28.2% in the 1st quarter. Achmea Investment Management B.V. now owns 74,172 shares of the company’s stock worth $4,515,000 after purchasing an additional 16,318 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 0.7%

Shares of FBIN opened at $49.97 on Tuesday. The business’s 50-day moving average price is $55.93 and its 200 day moving average price is $53.88. The stock has a market capitalization of $6.00 billion, a P/E ratio of 15.71, a P/E/G ratio of 3.44 and a beta of 1.33. Fortune Brands Innovations has a 1-year low of $47.21 and a 1-year high of $90.20. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.Fortune Brands Innovations’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. Fortune Brands Innovations’s payout ratio is presently 31.45%.

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.