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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $86.64.

Several brokerages recently weighed in on FBIN. Barclays reduced their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group reduced their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Royal Bank of Canada reduced their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $63.83 on Monday. The company has a market cap of $7.82 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.00 and a beta of 1.53. 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 stock has a 50-day moving average of $69.10 and a two-hundred day moving average of $76.81. Fortune Brands Innovations has a 1-year low of $60.81 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. As a group, analysts anticipate that Fortune Brands Innovations will post 4.24 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 26.67%.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in Fortune Brands Innovations in the third quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new position in Fortune Brands Innovations in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $55,000. IFP Advisors Inc boosted its holdings in shares of Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after acquiring an additional 275 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Fortune Brands Innovations in the third quarter valued at about $81,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

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.