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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given an average rating of “Hold” by the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $51.3077.

Several research firms recently commented on FBIN. Zacks Research cut Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. BMO Capital Markets cut their price target on Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Truist Financial cut their price target on Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, May 8th. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, May 15th.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $38.36 on Wednesday. The business has a 50 day simple moving average of $38.88 and a two-hundred day simple moving average of $47.87. Fortune Brands Innovations has a 12 month low of $32.34 and a 12 month high of $64.84. The stock has a market capitalization of $4.58 billion, a P/E ratio of 17.05, a PEG ratio of 2.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts predict that Fortune Brands Innovations will post 3.13 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 46.22%.

Insider Activity at Fortune Brands Innovations

In related news, Director Edward P. Garden purchased 57,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $34.89 per share, with a total value of $2,002,686.00. Following the completion of the acquisition, the director owned 3,620,167 shares in the company, valued at $126,307,626.63. This trade represents a 1.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased a total of 466,300 shares of company stock valued at $15,659,238 over the last ninety days. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its position in Fortune Brands Innovations by 74.0% in the first quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company’s stock worth $303,757,000 after acquiring an additional 3,317,232 shares during the period. Orbis Allan Gray Ltd grew its position in Fortune Brands Innovations by 586.7% in the fourth quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock worth $363,760,000 after acquiring an additional 6,213,274 shares during the period. Dimensional Fund Advisors LP grew its position in Fortune Brands Innovations by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company’s stock worth $158,362,000 after acquiring an additional 271,371 shares during the period. Garden Investment Management L.P. purchased a new position in Fortune Brands Innovations in the first quarter worth approximately $137,471,000. Finally, Bank of New York Mellon Corp grew its position in Fortune Brands Innovations by 20.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,236,159 shares of the company’s stock worth $161,873,000 after acquiring an additional 544,332 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.