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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been given a consensus recommendation of “Hold” by the sixteen research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $51.3077.

Several brokerages have recently issued reports on FBIN. Bank of America decreased their price target on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a report on Monday, April 20th. BMO Capital Markets decreased their price target on shares of 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. UBS Group decreased their price target on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada decreased their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating for the company 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 for the company in a report on Friday, May 15th.

Insider Buying and Selling

In related news, Director Edward P. Garden acquired 320,067 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of $40.60 per share, with a total value of $12,994,720.20. Following the transaction, the director owned 3,940,234 shares of the company’s stock, valued at $159,973,500.40. The trade was a 8.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 786,367 shares of company stock valued at $28,653,958. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd lifted its position in Fortune Brands Innovations by 586.7% during the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock worth $363,760,000 after buying an additional 6,213,274 shares in the last quarter. Garden Investment Management L.P. bought a new stake in Fortune Brands Innovations during the 1st quarter worth about $137,471,000. Pictet Asset Management Holding SA lifted its position in Fortune Brands Innovations by 74.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company’s stock worth $303,757,000 after buying an additional 3,317,232 shares in the last quarter. Norges Bank bought a new stake in Fortune Brands Innovations during the 4th quarter worth about $83,796,000. Finally, Balyasny Asset Management L.P. bought a new stake in Fortune Brands Innovations during the 2nd quarter worth about $77,441,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $42.44 on Friday. Fortune Brands Innovations has a 12-month low of $32.34 and a 12-month high of $64.84. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 2.74 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average of $39.38 and a 200-day moving average of $46.91.

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

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 22nd. Fortune Brands Innovations’s payout ratio is currently 46.22%.

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.