Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $91.36 Average Target Price from Analysts

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Seven equities research 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 brokerages that have covered the stock in the last year is $90.18.

A number of research analysts recently commented on the company. Evercore ISI lowered their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Robert W. Baird lowered their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. BMO Capital Markets increased their target price on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. UBS Group dropped their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Barclays boosted their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of large investors have recently made changes to their positions in FBIN. Assenagon Asset Management S.A. lifted its holdings in shares of Fortune Brands Innovations by 3.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 11,754 shares of the company’s stock valued at $803,000 after purchasing an additional 385 shares in the last quarter. Capital Investment Advisors LLC grew its stake in Fortune Brands Innovations by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock valued at $208,000 after acquiring an additional 190 shares in the last quarter. Nordea Investment Management AB grew its stake in Fortune Brands Innovations by 1.9% during the 4th quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock valued at $132,335,000 after acquiring an additional 35,289 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter worth approximately $280,000. Finally, Retirement Systems of Alabama boosted its holdings in shares of Fortune Brands Innovations by 0.5% during the third quarter. Retirement Systems of Alabama now owns 300,897 shares of the company’s stock worth $26,939,000 after purchasing an additional 1,622 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 2.5 %

Fortune Brands Innovations stock opened at $72.59 on Friday. Fortune Brands Innovations has a 1 year low of $62.54 and a 1 year high of $90.54. The firm’s 50-day moving average is $74.35 and its 200-day moving average is $77.53. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. The company has a market cap of $9.02 billion, a P/E ratio of 20.45, a PEG ratio of 2.43 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. Fortune Brands Innovations’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. On average, equities analysts expect that Fortune Brands Innovations will post 4.19 earnings per share 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 $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 28.17%.

Fortune Brands Innovations Company Profile

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.