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

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

Several brokerages have commented on FBIN. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target on the stock. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Barclays cut 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. Robert W. Baird cut 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. Finally, Royal Bank of Canada cut their price target on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 7th.

Fortune Brands Innovations Stock Down 2.9%

Shares of Fortune Brands Innovations stock traded down $1.50 on Wednesday, hitting $50.29. The company had a trading volume of 1,316,813 shares, compared to its average volume of 1,591,514. The stock has a 50-day moving average of $52.18 and a 200-day moving average of $62.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The firm has a market capitalization of $6.05 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.00 and a beta of 1.38. Fortune Brands Innovations has a twelve month low of $47.21 and a twelve month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business earned $0.83 EPS. The company's revenue was down 6.9% compared to the same quarter last year. Research analysts predict that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.99%. Fortune Brands Innovations's dividend payout ratio is currently 29.33%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FBIN. Wellington Management Group LLP raised its holdings in Fortune Brands Innovations by 113.5% in the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock valued at $373,079,000 after acquiring an additional 3,257,428 shares during the period. Generation Investment Management LLP bought a new position in Fortune Brands Innovations in the 1st quarter valued at about $98,157,000. Norges Bank bought a new position in Fortune Brands Innovations in the 4th quarter valued at about $101,122,000. Amundi raised its holdings in Fortune Brands Innovations by 166.8% in the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after acquiring an additional 1,442,195 shares during the period. Finally, Clearbridge Investments LLC bought a new position in Fortune Brands Innovations in the 4th quarter valued at about $59,970,000. 87.60% of the stock is owned by institutional investors.

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.