Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Fortune Brands Innovations, Inc. has received a consensus recommendation of "Moderate Buy" from eleven brokerages, with a target price averaging $75.91.
• The company recently reported quarterly earnings with an EPS of $1.00, exceeding estimates, despite a 3.0% year-over-year decline in revenue.
• Fortune Brands Innovations announced a quarterly dividend of $0.25 per share, reflecting an annual yield of 1.6%.

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $75.9091.

Several research firms have recently commented on FBIN. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a report on Wednesday, May 7th. Loop Capital reissued a "hold" rating and issued a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. UBS Group raised their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Barclays raised their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Friday, August 1st.

Fortune Brands Innovations Stock Up 7.0%

Fortune Brands Innovations stock opened at $61.5050 on Monday. Fortune Brands Innovations has a twelve month low of $47.21 and a twelve month high of $90.54. The stock has a 50 day moving average of $54.64 and a two-hundred day moving average of $56.35. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 4.22 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, research analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.00 annualized dividend and a yield of 1.6%. Fortune Brands Innovations's payout ratio is currently 31.45%.

Insider Transactions at Fortune Brands Innovations

In related news, CEO Nicholas I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction on Friday, August 15th. The stock was sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at approximately $10,664,100. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new position in Fortune Brands Innovations during the first quarter worth $26,000. National Pension Service increased 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 buying an additional 199 shares in the last quarter. CX Institutional purchased a new position in Fortune Brands Innovations during the first quarter worth $29,000. Elevation Point Wealth Partners LLC purchased a new position in Fortune Brands Innovations during the second quarter worth $26,000. Finally, EverSource Wealth Advisors LLC increased its position in Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company's stock worth $27,000 after buying an additional 323 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Company Profile

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.

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