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

Key Points

• Analyst sentiment on Fortune Brands Innovations is mostly cautious, with 16 analysts averaging a “Hold” rating and a consensus 1-year target price of about $51.31. Several firms recently cut their price targets, reflecting more tempered expectations.
• Director Edward P. Garden made a large insider purchase, buying 403,000 shares at $33.40 each for a total of $13.46 million. Insider buying over the past three months totaled 466,300 shares.
• The company’s latest results were in line with estimates, as it reported $0.53 EPS and $1.01 billion in revenue, while revenue fell 2.1% year over year. Fortune Brands also announced a quarterly dividend of $0.26 per share, equal to a 2.7% yield.

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have been given an average rating of "Hold" by the sixteen research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $51.3077.

FBIN has been the subject of a number of recent research reports. Truist Financial dropped their target price on Fortune Brands Innovations from $55.00 to $45.00 and set a "hold" rating for the company in a report on Friday, May 8th. BMO Capital Markets dropped their target price on 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. JPMorgan Chase & Co. dropped their target price on Fortune Brands Innovations from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Friday, May 15th. Zelman & Associates cut Fortune Brands Innovations from an "outperform" rating to a "neutral" rating in a report on Friday, February 13th. Finally, Wolfe Research set a $64.00 target price on Fortune Brands Innovations in a report on Friday, February 13th.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 403,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $33.40 per share, with a total value of $13,460,200.00. Following the purchase, the director owned 3,556,867 shares of the company's stock, valued at approximately $118,799,357.80. The trade was a 12.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders purchased 466,300 shares of company stock valued at $15,659,238. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. raised its holdings in shares of Fortune Brands Innovations by 0.8% during the fourth quarter. Osaic Holdings Inc. now owns 24,447 shares of the company's stock valued at $1,223,000 after acquiring an additional 198 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Fortune Brands Innovations by 1.2% during the fourth quarter. Assetmark Inc. now owns 17,728 shares of the company's stock valued at $887,000 after acquiring an additional 208 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Fortune Brands Innovations by 3.0% during the fourth quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company's stock valued at $366,000 after acquiring an additional 213 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Fortune Brands Innovations by 8.3% during the third quarter. UMB Bank n.a. now owns 2,794 shares of the company's stock valued at $149,000 after acquiring an additional 215 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Fortune Brands Innovations by 1.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company's stock valued at $1,139,000 after acquiring an additional 219 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $38.36 on Wednesday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40. 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 has a 50 day moving average price of $38.88 and a 200-day moving average price of $47.87. Fortune Brands Innovations has a one year low of $32.34 and a one year high of $64.84.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting analysts' consensus estimates of $0.53. The firm had revenue of $1.01 billion during 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%.The company's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts expect that Fortune Brands Innovations will post 3.13 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be issued a $0.26 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. Fortune Brands Innovations's payout ratio is 46.22%.

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.

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