Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $77.17 Consensus Price Target from Brokerages

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have received an average rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $77.17.

Several equities analysts recently weighed in on the stock. UBS Group cut their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Truist Financial set a $65.00 price objective on Fortune Brands Innovations in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 target price on the stock. Royal Bank of Canada cut their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a report on Wednesday, May 7th. Finally, Robert W. Baird decreased their price objective on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $51.05 on Friday. The stock has a 50-day moving average price of $55.25 and a 200 day moving average price of $65.98. The stock has a market capitalization of $6.14 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations has a 12-month low of $47.21 and a 12-month high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS. Equities research analysts forecast that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Tuesday, May 27th. Fortune Brands Innovations’s payout ratio is 29.33%.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. The trade was a 6.77% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Fortune Brands Innovations

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Fortune Brands Innovations by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock valued at $821,840,000 after acquiring an additional 68,404 shares during the period. Wellington Management Group LLP lifted its position in shares of Fortune Brands Innovations by 113.5% during the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock worth $373,079,000 after purchasing an additional 3,257,428 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Fortune Brands Innovations by 9.2% during the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company’s stock valued at $295,598,000 after purchasing an additional 409,466 shares during the period. Amundi boosted its stake in shares of Fortune Brands Innovations by 24.1% during the first quarter. Amundi now owns 2,861,900 shares of the company’s stock valued at $169,975,000 after purchasing an additional 555,036 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Fortune Brands Innovations by 22.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company’s stock worth $143,130,000 after purchasing an additional 426,929 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

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.