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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have earned a consensus rating of "Hold" from the eleven research firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $90.20.

Several brokerages have weighed in on FBIN. Robert W. Baird increased their price objective on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a "neutral" rating in a report on Monday, October 21st. Loop Capital reduced their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a "hold" rating for the company in a report on Friday, July 12th. BMO Capital Markets increased their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd. Truist Financial raised their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Finally, Jefferies Financial Group raised their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th.

Fortune Brands Innovations Stock Performance

Shares of FBIN traded down $3.09 on Tuesday, reaching $83.89. 2,268,704 shares of the company's stock traded hands, compared to its average volume of 1,178,843. The stock's 50 day simple moving average is $84.45 and its two-hundred day simple moving average is $75.87. Fortune Brands Innovations has a 52-week low of $54.88 and a 52-week high of $90.54. The stock has a market cap of $10.49 billion, a PE ratio of 25.65, a PEG ratio of 2.76 and a beta of 1.51. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a $0.24 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.14%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.36%.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of large investors have recently added to or reduced their stakes in the company. Choreo LLC raised its position in Fortune Brands Innovations by 2.9% during the first quarter. Choreo LLC now owns 5,701 shares of the company's stock valued at $483,000 after purchasing an additional 163 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Fortune Brands Innovations by 2.9% in the third quarter. Wedmont Private Capital now owns 5,786 shares of the company's stock worth $502,000 after buying an additional 164 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fortune Brands Innovations by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company's stock worth $665,000 after buying an additional 168 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of Fortune Brands Innovations by 2.4% in the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company's stock worth $474,000 after buying an additional 169 shares during the period. Finally, CWM LLC increased its holdings in shares of Fortune Brands Innovations by 8.3% in the third quarter. CWM LLC now owns 2,199 shares of the company's stock worth $197,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 87.60% of the company's stock.

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.