Fortune Brands Innovations (NYSE:FBIN) Cut to "Sell" at Wall Street Zen

Wall Street Zen downgraded shares of Fortune Brands Innovations (NYSE:FBIN - Free Report) from a hold rating to a sell rating in a report released on Thursday morning.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. UBS Group reduced their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Robert W. Baird reduced their target price on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barclays reduced their target price on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $77.17.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock traded down $0.48 on Thursday, hitting $50.25. The company had a trading volume of 1,565,751 shares, compared to its average volume of 1,500,955. The business has a 50-day simple moving average of $54.73 and a 200-day simple moving average of $65.38. 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 company has a market cap of $6.04 billion, a PE ratio of 13.40, a PEG ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations has a 52 week low of $47.21 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. The business 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 10.24% and a return on equity of 22.05%. The business's revenue was down 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.83 earnings per share. Research analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio is 29.33%.

Insider Buying and Selling

In related news, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBIN. Assenagon Asset Management S.A. lifted its position in Fortune Brands Innovations by 3.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 11,754 shares of the company's stock worth $803,000 after buying an additional 385 shares in the last quarter. HB Wealth Management LLC lifted its position in Fortune Brands Innovations by 26.1% in the 4th quarter. HB Wealth Management LLC now owns 3,973 shares of the company's stock worth $271,000 after buying an additional 822 shares in the last quarter. UMB Bank n.a. lifted its position in Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock worth $115,000 after buying an additional 170 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock valued at $2,292,000 after purchasing an additional 29,867 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Fortune Brands Innovations by 3.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,663 shares of the company's stock valued at $729,000 after purchasing an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

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.