Fortune Brands Innovations (NYSE:FBIN) Stock Rated Hold in New Coverage at Melius Research

Melius Research initiated coverage on shares of Fortune Brands Innovations (NYSE:FBIN) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $44.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $68.00 price objective on shares of Fortune Brands Innovations in a research report on Wednesday, August 5th. Barclays reduced their target price on Fortune Brands Innovations from $54.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday. DA Davidson initiated coverage on Fortune Brands Innovations in a research note on Monday, August 24th. They issued a “buy” rating and a $64.00 target price for the company. Finally, BMO Capital Markets lifted their price target on Fortune Brands Innovations from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $52.93.

Fortune Brands Innovations Trading Up 2.0%

NYSE FBIN opened at $39.27 on Tuesday. The stock has a market cap of $4.69 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 1.71 and a beta of 1.31. Fortune Brands Innovations has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The stock has a 50 day simple moving average of $43.45 and a two-hundred day simple moving average of $42.87. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.55. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, analysts forecast that Fortune Brands Innovations will post 3.33 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, November 20th. This represents a $1.04 annualized dividend and a dividend yield of 2.6%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 84.55%.

Insider Activity

In other news, CEO Jesse Singh purchased 19,725 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average price of $51.66 per share, for a total transaction of $1,018,993.50. Following the purchase, the chief executive officer directly owned 19,725 shares in the company, valued at approximately $1,018,993.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Fortune Brands Innovations

Institutional investors and hedge funds have recently bought and sold shares of the company. EFG International AG purchased a new position in shares of Fortune Brands Innovations during the second quarter valued at about $32,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Fortune Brands Innovations in the first quarter worth about $30,000. Community Bank N.A. boosted its stake in Fortune Brands Innovations by 59.4% during the second quarter. Community Bank N.A. now owns 765 shares of the company’s stock valued at $42,000 after buying an additional 285 shares during the last quarter. Twin Tree Management LP bought a new stake in Fortune Brands Innovations in the 2nd quarter worth approximately $47,000. Finally, Markowski Investments purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $49,000. 87.60% of the stock is currently owned by institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc is a manufacturer and marketer of products used in residential construction, renovation and outdoor living. The company operates a portfolio of brands focused on water, doors, outdoor living and home security products.

Its water-related products include faucets, showers and other plumbing fixtures marketed under brands such as Moen, House of Rohl, ROHL, Perrin & Rowe and Aqualisa. Its doors and outdoor living businesses offer entry doors, storm and screen doors, decking, railing, fencing and related building products through brands including Therma-Tru, Larson, Fiberon and Fypon.