Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Target Price at $86.64

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned an average recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. Six equities 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 target among analysts that have issued ratings on the stock in the last year is $86.64.

Several equities analysts have issued reports on the company. Barclays dropped their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. UBS Group dropped their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. The Goldman Sachs Group dropped their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada dropped their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th.

Insider Activity

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Fortune Brands Innovations by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock worth $821,840,000 after buying an additional 68,404 shares in the last quarter. FMR LLC boosted its position in Fortune Brands Innovations by 104.5% in the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Fortune Brands Innovations by 2.6% in the fourth quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company’s stock worth $303,792,000 after purchasing an additional 114,391 shares during the last quarter. Wellington Management Group LLP boosted its position in Fortune Brands Innovations by 63.0% in the fourth quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock worth $196,153,000 after purchasing an additional 1,110,021 shares during the last quarter. Finally, Amundi boosted its position in Fortune Brands Innovations by 166.8% in the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after purchasing an additional 1,442,195 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $63.83 on Monday. The business’s 50-day moving average price is $68.99 and its 200-day moving average price is $76.70. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations has a 12 month low of $60.81 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS 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%. Equities research analysts forecast that Fortune Brands Innovations will post 4.24 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 of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Fortune Brands Innovations’s payout ratio is currently 26.67%.

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.