Brokerages Set Fortune Brands Innovations, Inc. (NYSE:FBIN) PT at $51.31

Fortune Brands Innovations, Inc. (NYSE:FBIN) has earned a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $51.3077.

Several equities research analysts have recently issued reports on FBIN shares. Zelman & Associates cut Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a report on Friday, February 13th. Robert W. Baird set a $44.00 price objective on Fortune Brands Innovations in a report on Friday, May 8th. Truist Financial decreased their price objective on Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, May 8th. The Goldman Sachs Group decreased their price objective on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Finally, Bank of America reduced their target price on Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a report on Monday, April 20th.

Insider Transactions at Fortune Brands Innovations

In other news, Director Edward P. Garden purchased 57,400 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $34.89 per share, with a total value of $2,002,686.00. Following the completion of the transaction, the director owned 3,620,167 shares in the company, valued at approximately $126,307,626.63. The trade was a 1.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 466,300 shares of company stock worth $15,659,238 over the last ninety days. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of institutional investors have recently added to or reduced their stakes in FBIN. Danske Bank A S purchased a new position in Fortune Brands Innovations in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC raised 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 valued at $27,000 after purchasing an additional 323 shares during the period. V Square Quantitative Management LLC purchased a new position in Fortune Brands Innovations in the fourth quarter valued at about $28,000. Cary Street Partners Investment Advisory LLC raised its position in Fortune Brands Innovations by 1,275.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after purchasing an additional 510 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Fortune Brands Innovations in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $38.94 on Wednesday. Fortune Brands Innovations has a 1-year low of $32.34 and a 1-year high of $64.84. The company has a market capitalization of $4.65 billion, a P/E ratio of 17.31, a PEG ratio of 2.55 and a beta of 1.40. The business has a 50 day moving average price of $38.68 and a 200 day moving average price of $47.67. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.Fortune Brands Innovations’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Sell-side analysts expect that Fortune Brands Innovations will post 3.13 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s payout ratio is 46.22%.

Fortune Brands Innovations Company Profile

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.