Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Price Target at $86.64

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $86.64.

Several analysts recently issued reports on FBIN shares. Evercore ISI cut their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Truist Financial raised their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays cut their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada cut their target price on 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. Finally, UBS Group cut their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $62.43 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations has a 1 year low of $60.81 and a 1 year high of $90.54. The business has a fifty day simple moving average of $69.24 and a 200 day simple moving average of $76.90. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 2.00 and a beta of 1.50.

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

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.25 dividend. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 26.67%.

Insider Activity

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after buying an additional 121 shares in the last quarter. Smithfield Trust Co grew its position in Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after buying an additional 133 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after buying an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Fortune Brands Innovations by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Fortune Brands Innovations by 11.2% during the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after purchasing an additional 170 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

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.