Fortune Brands Innovations (NYSE:FBIN) Stock Price Up 4.8% – What’s Next?

Fortune Brands Innovations, Inc. (NYSE:FBIN)’s share price shot up 4.8% during mid-day trading on Friday . The stock traded as high as $51.76 and last traded at $51.8970. 441,158 shares were traded during trading, a decline of 84% from the average session volume of 2,809,713 shares. The stock had previously closed at $49.52.

Analysts Set New Price Targets

FBIN has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 2nd. Bank of America cut their target price on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Robert W. Baird set a $44.00 price objective on shares of Fortune Brands Innovations in a research note on Friday, May 8th. Royal Bank Of Canada decreased their price target on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, The Goldman Sachs Group raised their price target on shares of Fortune Brands Innovations from $50.00 to $61.00 and gave the stock a “buy” rating in a report on Friday. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.23.

Fortune Brands Innovations Trading Up 4.2%

The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 3.33 and a beta of 1.30. The business has a 50 day moving average of $41.96 and a two-hundred day moving average of $46.70. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. Equities analysts predict that Fortune Brands Innovations, Inc. will post 3.14 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were paid a $0.26 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.04 annualized dividend and a dividend yield of 2.0%. Fortune Brands Innovations’s payout ratio is presently 46.22%.

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 403,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $33.40 per share, with a total value of $13,460,200.00. Following the completion of the transaction, the director directly owned 3,556,867 shares in the company, valued at approximately $118,799,357.80. This trade represents a 12.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 786,367 shares of company stock worth $28,653,958 in the last three months. 3.32% of the stock is owned by company insiders.

Institutional Trading of Fortune Brands Innovations

A number of institutional investors have recently added to or reduced their stakes in FBIN. Aquatic Capital Management LLC grew its position in shares of Fortune Brands Innovations by 75.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 95,042 shares of the company’s stock valued at $5,074,000 after purchasing an additional 40,898 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Fortune Brands Innovations by 7.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company’s stock valued at $27,723,000 after buying an additional 37,861 shares in the last quarter. Thematics Asset Management bought a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at about $12,287,000. Black Cypress Capital Management LLC raised its stake in shares of Fortune Brands Innovations by 22.6% during the fourth quarter. Black Cypress Capital Management LLC now owns 150,825 shares of the company’s stock worth $7,544,000 after acquiring an additional 27,824 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Fortune Brands Innovations by 2,071.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 147,689 shares of the company’s stock worth $7,387,000 after purchasing an additional 140,888 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

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.