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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have been assigned an average recommendation of "Hold" from the twelve brokerages that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $77.17.

Several equities research analysts have issued reports on the stock. Truist Financial set a $65.00 price target on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. UBS Group decreased 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. Robert W. Baird dropped their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Royal Bank of Canada cut their target price on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays lowered their price target on 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.

Institutional Trading of Fortune Brands Innovations

Several hedge funds have recently bought and sold shares of FBIN. von Borstel & Associates Inc. bought a new stake in Fortune Brands Innovations in the 1st quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $31,000. National Pension Service boosted 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 valued at $28,000 after purchasing an additional 199 shares during the last quarter. CX Institutional bought a new position in Fortune Brands Innovations in the first quarter valued at approximately $29,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth approximately $55,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Performance

Shares of FBIN traded down $0.96 during trading hours on Wednesday, reaching $51.88. 1,236,770 shares of the company traded hands, compared to its average volume of 1,589,500. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock's fifty day moving average is $52.15 and its 200 day moving average is $63.29. Fortune Brands Innovations has a 1-year low of $47.21 and a 1-year high of $90.54. The stock has a market cap of $6.24 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 2.00 and a beta of 1.38.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates 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 22.05% and a net margin of 10.24%. The company's quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. Equities research analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 29.33%.

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.