Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have been given a consensus recommendation of "Hold" by the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $86.64.

A number of equities research analysts have recently issued reports on the stock. Evercore ISI reduced their price target on shares of 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. Royal Bank of Canada reduced their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Barclays lowered their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Robert W. Baird lowered their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock traded up $0.74 during trading hours on Monday, reaching $63.13. 1,703,599 shares of the stock were exchanged, compared to its average volume of 1,232,940. The stock has a market cap of $7.74 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.00 and a beta of 1.50. The firm's 50 day moving average is $69.24 and its 200 day moving average is $76.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. Fortune Brands Innovations has a 52-week low of $60.81 and a 52-week high of $90.54.

Remove Ads

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Analysts predict that Fortune Brands Innovations will post 4.24 EPS for the current fiscal 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's payout ratio is currently 26.67%.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares of the company's stock, valued at $472,177.83. This represents a 6.77 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of institutional investors have recently bought and sold shares of FBIN. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations in the fourth quarter valued at $55,000. IFP Advisors Inc grew its position in Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after acquiring an additional 275 shares during the period. Finally, Siemens Fonds Invest GmbH purchased a new stake in Fortune Brands Innovations during the fourth quarter valued at about $76,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.