Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Consensus Recommendation of “Hold” by Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $91.36.

Several equities analysts have issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets boosted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group raised their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Truist Financial lifted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays increased their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC lifted its stake in shares of Fortune Brands Innovations by 10.9% in the 3rd quarter. Tidal Investments LLC now owns 3,639 shares of the company’s stock valued at $326,000 after purchasing an additional 359 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Fortune Brands Innovations during the third quarter valued at approximately $229,000. Arvest Bank Trust Division acquired a new stake in shares of Fortune Brands Innovations in the third quarter worth $17,621,000. Toronto Dominion Bank raised its stake in shares of Fortune Brands Innovations by 30.2% in the 3rd quarter. Toronto Dominion Bank now owns 15,775 shares of the company’s stock valued at $1,412,000 after acquiring an additional 3,655 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at $261,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Down 0.0 %

NYSE:FBIN opened at $77.97 on Friday. Fortune Brands Innovations has a 12-month low of $62.54 and a 12-month high of $90.54. The firm has a market cap of $9.69 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 2.59 and a beta of 1.51. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $84.08 and a 200 day moving average price of $76.57.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. Sell-side analysts anticipate that Fortune Brands Innovations will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

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.