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

Key Points

• Fortune Brands Innovations, Inc. has received an average "Hold" rating from 11 brokerages, with 7 hold ratings and 4 buy ratings; the average 1-year target price is $71.90.
• CEO Nicholas I. Fink sold nearly 30,000 shares of the company’s stock, decreasing his ownership by 14.16%, while insiders own 1.00% of the company’s shares.
• The company recently announced a quarterly dividend of $0.25, with a payout ratio of 31.45%, representing an annualized yield of 2.1% for investors.

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have received an average recommendation of "Hold" from the eleven brokerages that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $71.90.

FBIN has been the subject of several recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Fortune Brands Innovations in a report on Saturday, September 27th. Loop Capital reissued a "hold" rating and set a $61.00 target price (up previously from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Truist Financial reissued a "hold" rating and set a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $59.00 to $65.00 in a report on Friday, August 1st. Finally, UBS Group raised their target price on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, August 1st.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction on Friday, August 15th. The shares were sold at an average price of $59.04, for a total value of $1,758,919.68. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBIN. Townsquare Capital LLC lifted its holdings in shares of Fortune Brands Innovations by 3.3% in the 1st quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock worth $380,000 after acquiring an additional 197 shares during the last quarter. National Pension Service lifted its holdings in shares of Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after acquiring an additional 199 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Fortune Brands Innovations by 20.8% in the 2nd quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company's stock worth $63,000 after acquiring an additional 212 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of Fortune Brands Innovations by 6.2% in the 1st quarter. HB Wealth Management LLC now owns 4,220 shares of the company's stock worth $257,000 after acquiring an additional 247 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Fortune Brands Innovations by 30.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,108 shares of the company's stock worth $57,000 after acquiring an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Trading Up 0.0%

NYSE FBIN opened at $48.21 on Tuesday. The company has a fifty day simple moving average of $56.46 and a two-hundred day simple moving average of $54.14. The stock has a market cap of $5.79 billion, a P/E ratio of 15.16, a P/E/G ratio of 3.31 and a beta of 1.33. Fortune Brands Innovations has a 12-month low of $47.21 and a 12-month high of $90.50. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the company posted $1.16 earnings per share. The firm's revenue was down 3.0% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, analysts forecast 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, December 10th. Shareholders of record on Friday, November 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. Fortune Brands Innovations's payout ratio is presently 31.45%.

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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