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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned an average rating of “Hold” from the twelve analysts that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $89.36.

FBIN has been the topic of a number of recent analyst reports. Evercore ISI dropped their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird reduced their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets boosted their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday.

Institutional Trading of Fortune Brands Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teca Partners LP boosted its position in shares of Fortune Brands Innovations by 165.0% during the second quarter. Teca Partners LP now owns 233,229 shares of the company’s stock valued at $15,146,000 after buying an additional 145,229 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Fortune Brands Innovations by 50.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company’s stock worth $3,053,000 after acquiring an additional 11,400 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth $20,857,000. Diamond Hill Capital Management Inc. raised its holdings in shares of Fortune Brands Innovations by 48.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 401,378 shares of the company’s stock valued at $26,065,000 after purchasing an additional 131,342 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Fortune Brands Innovations by 30.7% during the second quarter. Envestnet Asset Management Inc. now owns 36,582 shares of the company’s stock worth $2,376,000 after purchasing an additional 8,590 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Performance

NYSE:FBIN opened at $74.55 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. Fortune Brands Innovations has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The company has a 50 day simple moving average of $73.89 and a two-hundred day simple moving average of $77.56. The company has a market capitalization of $9.26 billion, a PE ratio of 21.00, a P/E/G ratio of 2.05 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. Fortune Brands Innovations’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 earnings per share. Research analysts anticipate that Fortune Brands Innovations will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.25 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a yield of 1.34%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

About Fortune Brands Innovations

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.