Fortune Brands Innovations (NYSE:FBIN) Reaches New 1-Year Low – What’s Next?

Fortune Brands Innovations, Inc. (NYSE:FBIN) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $35.41 and last traded at $35.8510, with a volume of 144917 shares changing hands. The stock had previously closed at $36.94.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FBIN. BMO Capital Markets lowered their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 20th. Robert W. Baird set a $44.00 price target on shares of Fortune Brands Innovations in a report on Friday, May 8th. UBS Group cut their price target on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank Of Canada reduced their price objective on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Finally, Zelman & Associates downgraded Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $52.33.

Fortune Brands Innovations Trading Down 4.1%

The firm’s 50-day moving average is $41.14 and its 200-day moving average is $48.91. The company has a current ratio of 2.13, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.37 and a beta of 1.40.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. Fortune Brands Innovations’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. As a group, sell-side analysts anticipate that Fortune Brands Innovations, Inc. will post 3.19 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 46.22%.

Institutional Trading of Fortune Brands Innovations

A number of large investors have recently bought and sold shares of FBIN. Royal Bank of Canada increased its position in Fortune Brands Innovations by 0.8% in the first quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock worth $2,539,000 after buying an additional 324 shares during the last quarter. Empowered Funds LLC increased its position in Fortune Brands Innovations by 20.5% in the first quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock worth $629,000 after buying an additional 1,761 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Fortune Brands Innovations by 83.6% in the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company’s stock worth $52,000 after buying an additional 388 shares during the last quarter. Cetera Investment Advisers increased its position in Fortune Brands Innovations by 7.6% in the second quarter. Cetera Investment Advisers now owns 10,382 shares of the company’s stock worth $534,000 after buying an additional 731 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Fortune Brands Innovations by 158.3% in the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock worth $27,000 after buying an additional 323 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.