Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Average Rating of “Hold” by Analysts

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $62.3333.

FBIN has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortune Brands Innovations in a report on Monday, December 29th. UBS Group dropped their price target on shares of Fortune Brands Innovations from $83.00 to $79.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Vertical Research initiated coverage on shares of Fortune Brands Innovations in a research report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 price objective for the company. Barclays increased their target price on shares of Fortune Brands Innovations from $63.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Finally, Evercore ISI restated an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of institutional investors have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd acquired a new position in Fortune Brands Innovations during the second quarter worth $87,611,000. Bank of New York Mellon Corp grew its position in shares of Fortune Brands Innovations by 147.8% in the third quarter. Bank of New York Mellon Corp now owns 2,691,827 shares of the company’s stock valued at $143,717,000 after purchasing an additional 1,605,453 shares during the period. Norges Bank purchased a new stake in shares of Fortune Brands Innovations during the second quarter worth about $78,395,000. Balyasny Asset Management L.P. acquired a new position in shares of Fortune Brands Innovations during the 2nd quarter worth about $77,441,000. Finally, First Pacific Advisors LP lifted its stake in Fortune Brands Innovations by 152.2% in the 2nd quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company’s stock valued at $102,877,000 after buying an additional 1,205,880 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $54.90 on Thursday. Fortune Brands Innovations has a 52-week low of $44.04 and a 52-week high of $73.93. The company has a quick ratio of 0.94, a current ratio of 1.95 and a debt-to-equity ratio of 1.12. The stock has a market cap of $6.60 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 3.77 and a beta of 1.40. The business has a 50-day simple moving average of $53.15 and a 200-day simple moving average of $53.82.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.01). Fortune Brands Innovations had a net margin of 7.30% and a return on equity of 19.28%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Friday, February 20th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 20th. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 37.31%.

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.