Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $91.36 Average PT from Analysts

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) has been given a consensus rating of "Hold" by the twelve ratings firms that are covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $91.36.

A number of analysts have recently commented on the company. Truist Financial upped their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Evercore ISI cut their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. BMO Capital Markets boosted their target price 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. UBS Group cut their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Finally, Robert W. Baird dropped their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th.

Institutional Trading of Fortune Brands Innovations

Several institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its holdings in Fortune Brands Innovations by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company's stock worth $323,000 after purchasing an additional 121 shares during the period. Smithfield Trust Co boosted its holdings in shares of Fortune Brands Innovations by 4.6% in the 3rd quarter. Smithfield Trust Co now owns 3,031 shares of the company's stock valued at $271,000 after buying an additional 133 shares during the period. Wedmont Private Capital grew its position in shares of Fortune Brands Innovations by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company's stock valued at $502,000 after buying an additional 164 shares during the last quarter. Summit Trail Advisors LLC raised its stake in Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company's stock worth $474,000 after acquiring an additional 169 shares during the period. Finally, CWM LLC raised its stake in Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company's stock worth $197,000 after acquiring an additional 169 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Trading Down 0.5 %

FBIN stock traded down $0.37 during midday trading on Friday, hitting $69.00. The stock had a trading volume of 1,570,553 shares, compared to its average volume of 1,452,559. The company's 50-day moving average price is $74.62 and its 200 day moving average price is $77.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The firm has a market cap of $8.57 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 2.43 and a beta of 1.49. Fortune Brands Innovations has a 12-month low of $62.54 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 9.61% and a return on equity of 22.22%. Fortune Brands Innovations's revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 earnings per share. On average, equities research analysts predict that Fortune Brands Innovations will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 28.17%.

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.