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

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

Several research analysts have recently weighed in on the company. Royal Bank Of Canada lowered their price objective on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 7th. Truist Financial set a $65.00 price objective on Fortune Brands Innovations in a research report on Wednesday, May 7th. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Robert W. Baird lowered their price objective on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 target price for the company.

Fortune Brands Innovations Trading Up 2.8%

Shares of FBIN stock traded up $1.49 during mid-day trading on Friday, hitting $53.87. The company's stock had a trading volume of 694,769 shares, compared to its average volume of 1,624,613. The company's fifty day simple moving average is $52.08 and its 200-day simple moving average is $59.87. Fortune Brands Innovations has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.72 and a current ratio of 1.41. The company has a market cap of $6.48 billion, a PE ratio of 15.80, a P/E/G ratio of 2.95 and a beta of 1.36.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $0.83 EPS. The business's quarterly revenue was down 6.9% on a year-over-year basis. As a group, equities research analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a yield of 1.86%. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 29.33%.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently added to or reduced their stakes in the stock. von Borstel & Associates Inc. acquired a new position in Fortune Brands Innovations during the 1st quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new position in Fortune Brands Innovations during the 4th quarter valued at about $31,000. National Pension Service boosted its stake in Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after purchasing an additional 199 shares during the last quarter. CX Institutional acquired a new position in Fortune Brands Innovations during the 1st quarter valued at about $29,000. Finally, Geneos Wealth Management Inc. boosted its stake in Fortune Brands Innovations by 83.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 852 shares of the company's stock valued at $52,000 after purchasing an additional 388 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

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.