Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Average Recommendation of “Hold” by Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $54.3846.

Several analysts have recently issued reports on FBIN shares. Bank of America reduced their price objective on 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. Weiss Ratings raised shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 2nd. Zacks Research raised shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research note on Monday. Royal Bank Of Canada reduced their target price on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th.

Fortune Brands Innovations Price Performance

FBIN stock opened at $51.21 on Thursday. Fortune Brands Innovations has a 1 year low of $32.34 and a 1 year high of $64.84. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13. The stock’s 50 day moving average price is $42.63 and its 200 day moving average price is $46.66. The firm has a market cap of $6.11 billion, a P/E ratio of 22.76, a PEG ratio of 3.26 and a beta of 1.30.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.Fortune Brands Innovations’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, sell-side analysts expect that Fortune Brands Innovations will post 3.14 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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

Insider Transactions at Fortune Brands Innovations

In other news, Director Edward P. Garden bought 320,067 shares of the stock in a transaction on Wednesday, June 10th. The stock was purchased at an average cost of $40.60 per share, with a total value of $12,994,720.20. Following the purchase, the director owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. The trade was a 8.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased a total of 786,367 shares of company stock worth $28,653,958 in the last quarter. 3.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Diamond Hill Capital Management Inc. raised its position in shares of Fortune Brands Innovations by 7.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company’s stock worth $27,723,000 after buying an additional 37,861 shares during the period. Black Cypress Capital Management LLC increased its stake in 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 during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Fortune Brands Innovations by 2,071.6% in the 4th 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 period. Systematic Financial Management LP acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at about $14,328,000. Finally, Vulcan Value Partners LLC lifted its stake in shares of Fortune Brands Innovations by 18.2% in the 4th quarter. Vulcan Value Partners LLC now owns 353,520 shares of the company’s stock valued at $17,683,000 after purchasing an additional 54,492 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Company Profile

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.