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

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

A number of brokerages have recently weighed in on FBIN. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price objective for the company. Barclays cut their price target on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Royal Bank Of Canada decreased their price objective on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Robert W. Baird reduced 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.

Fortune Brands Innovations Price Performance

FBIN traded down $0.86 during trading on Friday, reaching $53.45. 1,086,596 shares of the company traded hands, compared to its average volume of 1,613,892. The company has a market cap of $6.43 billion, a P/E ratio of 15.67, a PEG ratio of 2.95 and a beta of 1.36. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.72 and a current ratio of 1.41. Fortune Brands Innovations has a 12-month low of $47.21 and a 12-month high of $90.54. The firm has a fifty day simple moving average of $52.11 and a 200 day simple moving average of $60.05.

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

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.87%. The ex-dividend date was Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of large investors have recently made changes to their positions in FBIN. von Borstel & Associates Inc. acquired a new stake in shares of Fortune Brands Innovations in the 1st quarter worth $26,000. National Pension Service boosted its holdings in Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after acquiring an additional 199 shares in the last quarter. CX Institutional purchased a new stake in shares of Fortune Brands Innovations during the first quarter worth about $29,000. Flagship Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at about $31,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Fortune Brands Innovations by 83.6% in 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. 87.60% of the stock is owned by institutional investors and hedge funds.

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.