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

Key Points

• Wall Street sentiment is cautious: Fortune Brands Innovations has an average analyst rating of "Hold" from 16 brokerages, with a consensus 12-month price target of about $54.38.
• Insider and institutional buying has been notable: Director Edward P. Garden bought 320,067 shares in June, and insiders have purchased 786,367 shares over the last 90 days. Institutional investors own 87.6% of the stock.
• Recent results were in line with expectations: The company reported quarterly EPS of $0.53, matching estimates, on revenue of $1.01 billion. It also pays a quarterly dividend of $0.26 per share, equal to a 2.0% yield.

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have earned an average rating of "Hold" from the sixteen ratings firms that are covering the firm, MarketBeat Ratings 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 price objective among brokers that have updated their coverage on the stock in the last year is $54.3846.

Several research analysts have weighed in on the company. Robert W. Baird set a $44.00 target price on Fortune Brands Innovations in a research note on Friday, May 8th. Royal Bank Of Canada reduced their target price on Fortune Brands Innovations from $56.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, May 8th. BMO Capital Markets cut 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. JPMorgan Chase & Co. decreased their price objective on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, May 15th. Finally, The Goldman Sachs Group upped their target price on shares of Fortune Brands Innovations from $50.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, July 10th.

Insider Buying and Selling at Fortune Brands Innovations

In other news, Director Edward P. Garden acquired 320,067 shares of the company's stock in a transaction that occurred 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 directly owned 3,940,234 shares of the company's stock, valued at approximately $159,973,500.40. This trade represents a 8.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders purchased 786,367 shares of company stock valued at $28,653,958. Corporate insiders own 3.32% of the company's stock.

Institutional Trading of Fortune Brands Innovations

Several large investors have recently bought and sold shares of FBIN. Pictet Asset Management Holding SA raised its stake in shares of 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 during the last quarter. Orbis Allan Gray Ltd grew its stake in Fortune Brands Innovations by 586.7% in the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company's stock valued at $363,760,000 after acquiring an additional 6,213,274 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Fortune Brands Innovations by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,064,086 shares of the company's stock valued at $158,362,000 after acquiring an additional 271,371 shares in the last quarter. Garden Investment Management L.P. purchased a new position in Fortune Brands Innovations during the 1st quarter valued at about $137,471,000. Finally, Bank of New York Mellon Corp raised its position in Fortune Brands Innovations by 20.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,236,159 shares of the company's stock worth $161,873,000 after acquiring an additional 544,332 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $51.21 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The firm has a market cap of $6.11 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 3.26 and a beta of 1.30. The company's 50 day simple moving average is $42.63 and its 200-day simple moving average is $46.66. Fortune Brands Innovations has a 12-month low of $32.34 and a 12-month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.53 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 firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Fortune Brands Innovations's revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities analysts predict that Fortune Brands Innovations will post 3.14 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders 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 payout ratio is 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.

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