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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $91.36.

Several equities analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI reduced their price objective 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. The Goldman Sachs Group upped their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. UBS Group cut their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Robert W. Baird reduced their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently modified their holdings of FBIN. FMR LLC boosted its stake in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after buying an additional 3,024,950 shares during the period. Select Equity Group L.P. lifted its stake in Fortune Brands Innovations by 48.8% during the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after purchasing an additional 2,075,673 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Fortune Brands Innovations by 12,402.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after buying an additional 334,865 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Fortune Brands Innovations in the second quarter valued at $20,857,000. Finally, Arvest Bank Trust Division purchased a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at $17,621,000. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Down 0.0 %

Shares of FBIN opened at $77.97 on Friday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.59 and a beta of 1.51. Fortune Brands Innovations has a 52 week low of $62.54 and a 52 week high of $90.54. The stock’s 50-day moving average price is $84.08 and its 200-day moving average price is $76.57. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the company earned $1.19 EPS. The business’s revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts predict that Fortune Brands Innovations will post 4.19 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

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.