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

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) has been given a consensus recommendation of "Hold" by the twelve brokerages that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $77.17.

Several research firms have recently weighed in on FBIN. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research note on Wednesday, May 7th. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Robert W. Baird dropped their price objective on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada dropped 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. Finally, UBS Group dropped their price objective on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. von Borstel & Associates Inc. purchased a new position in shares of Fortune Brands Innovations in the first quarter worth $26,000. Flagship Wealth Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth $31,000. National Pension Service raised its stake in shares of 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 purchasing an additional 199 shares during the last quarter. CX Institutional purchased a new position in shares of Fortune Brands Innovations in the first quarter worth $29,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Fortune Brands Innovations by 119.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company's stock worth $28,000 after purchasing an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock traded up $0.97 on Friday, hitting $54.07. 1,503,282 shares of the stock were exchanged, compared to its average volume of 1,636,599. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $6.50 billion, a PE ratio of 15.86, a P/E/G ratio of 2.93 and a beta of 1.36. Fortune Brands Innovations has a one year low of $47.21 and a one year high of $90.54. The firm's 50 day moving average is $52.07 and its two-hundred day moving average is $59.78.

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

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio is currently 29.33%.

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.