Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $76.60.

FBIN has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Robert W. Baird lowered their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Barclays upped their target price on Fortune Brands Innovations from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada lowered their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 7th.

Fortune Brands Innovations Stock Down 2.4%

Shares of Fortune Brands Innovations stock opened at $54.54 on Thursday. Fortune Brands Innovations has a 1 year low of $47.21 and a 1 year high of $90.54. The company has a market cap of $6.56 billion, a P/E ratio of 15.99, a P/E/G ratio of 3.31 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average price of $52.38 and a 200 day moving average price of $58.31.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the company posted $0.83 earnings per share. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations’s dividend payout ratio is 29.33%.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the business. von Borstel & Associates Inc. bought a new stake in Fortune Brands Innovations during the 1st quarter valued at approximately $26,000. National Pension Service increased its position in Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company’s stock worth $28,000 after buying an additional 199 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Fortune Brands Innovations by 119.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock worth $28,000 after buying an additional 293 shares during the last quarter. CX Institutional bought a new stake in shares of Fortune Brands Innovations in the first quarter valued at approximately $29,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Fortune Brands Innovations in the second quarter valued at approximately $37,000. 87.60% of the stock is owned by institutional investors and hedge funds.

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.