Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Average Rating of "Hold" from Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have been assigned a consensus rating of "Hold" from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $91.36.

A number of research analysts have recently issued reports on FBIN shares. Jefferies Financial Group boosted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Barclays boosted their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. BMO Capital Markets increased their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Evercore ISI lowered their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating for the company in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th.

Fortune Brands Innovations Price Performance

Shares of FBIN traded down $3.78 during trading hours on Wednesday, reaching $70.02. The stock had a trading volume of 1,181,002 shares, compared to its average volume of 1,181,536. The stock has a market capitalization of $8.70 billion, a PE ratio of 19.72, a PEG ratio of 2.51 and a beta of 1.47. Fortune Brands Innovations has a 12 month low of $62.54 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The company's 50-day moving average is $80.79 and its two-hundred day moving average is $77.19.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business's quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. Research analysts expect that Fortune Brands Innovations will post 4.19 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This is an increase from Fortune Brands Innovations's previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. Fortune Brands Innovations's payout ratio is currently 28.17%.

Hedge Funds Weigh In On Fortune Brands Innovations

Large investors have recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Fortune Brands Innovations in the 3rd quarter valued at about $25,000. Family Firm Inc. bought a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $31,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Fortune Brands Innovations by 526.5% in the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock valued at $34,000 after purchasing an additional 437 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Fortune Brands Innovations during the second quarter valued at approximately $54,000. Finally, Raleigh Capital Management Inc. grew its holdings in Fortune Brands Innovations by 31.7% during the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company's stock worth $80,000 after buying an additional 216 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

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.