Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Get Free Report) have received an average rating of “Hold” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $51.3077.
A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Barclays reduced their price objective on Fortune Brands Innovations from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Truist Financial reduced their price objective on Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday, May 8th. Robert W. Baird set a $44.00 price objective on Fortune Brands Innovations in a report on Friday, May 8th. Finally, UBS Group reduced their price objective on Fortune Brands Innovations from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, May 8th.
View Our Latest Stock Report on FBIN
Fortune Brands Innovations Stock Performance
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. As a group, equities analysts predict that Fortune Brands Innovations will post 3.14 EPS for the current year.
Fortune Brands Innovations Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s payout ratio is currently 46.22%.
Insiders Place Their Bets
In other Fortune Brands Innovations news, Director Edward P. Garden acquired 320,067 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was acquired at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the purchase, the director directly owned 3,940,234 shares of the company’s stock, valued at $159,973,500.40. This trade represents a 8.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have bought 786,367 shares of company stock valued at $28,653,958. 3.32% of the stock is owned by insiders.
Institutional Investors Weigh In On Fortune Brands Innovations
A number of large investors have recently added to or reduced their stakes in FBIN. Danske Bank A S acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its position in shares of Fortune Brands Innovations by 158.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after buying an additional 323 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $28,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Fortune Brands Innovations by 1,275.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company’s stock valued at $28,000 after buying an additional 510 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 87.60% of the company’s stock.
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.
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