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

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) has been given a consensus rating of "Hold" by the twelve analysts that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $77.17.

FBIN has been the topic of several research reports. Robert W. Baird dropped their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. UBS Group dropped their price target on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Barclays dropped their price target on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price objective on the stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Large investors have recently added to or reduced their stakes in the stock. von Borstel & Associates Inc. bought a new stake in Fortune Brands Innovations during the first quarter worth approximately $26,000. National Pension Service boosted its position in Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after purchasing an additional 199 shares during the period. CX Institutional bought a new stake in Fortune Brands Innovations during the first quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new stake in Fortune Brands Innovations during the fourth quarter worth approximately $31,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company's stock worth $52,000 after buying an additional 388 shares during the last quarter. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN traded down $0.51 during midday trading on Friday, reaching $52.94. 200,332 shares of the company traded hands, compared to its average volume of 1,608,521. Fortune Brands Innovations has a 52 week low of $47.21 and a 52 week high of $90.54. The stock has a 50-day moving average price of $52.11 and a 200 day moving average price of $59.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 2.95 and a beta of 1.36.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, meeting analysts' consensus estimates of $0.66. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The company's revenue was down 6.9% on a year-over-year basis. Sell-side analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were paid a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. Fortune Brands Innovations's payout ratio is 29.33%.

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.