Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Average Rating of “Hold” by Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $80.38.

Several research firms have recently commented on FBIN. Robert W. Baird boosted their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI cut their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st.

Institutional Trading of Fortune Brands Innovations

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale raised its stake in shares of Fortune Brands Innovations by 17.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock valued at $5,052,000 after acquiring an additional 8,836 shares during the period. Pathway Financial Advisers LLC purchased a new stake in shares of Fortune Brands Innovations in the first quarter worth approximately $51,000. PGGM Investments lifted its stake in shares of Fortune Brands Innovations by 412.6% during the 1st quarter. PGGM Investments now owns 43,628 shares of the company’s stock worth $3,694,000 after acquiring an additional 35,117 shares during the last quarter. Swedbank AB purchased a new position in Fortune Brands Innovations during the 1st quarter valued at $4,884,000. Finally, LRI Investments LLC bought a new position in Fortune Brands Innovations in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 0.0 %

FBIN opened at $63.42 on Wednesday. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.79 and a beta of 1.52. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04. The firm’s fifty day moving average is $69.76 and its 200 day moving average is $75.71. Fortune Brands Innovations has a fifty-two week low of $54.10 and a fifty-two week high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, sell-side analysts forecast that Fortune Brands Innovations will post 4.31 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Thursday, May 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

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.