Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $83.20 Consensus Target Price from Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given a consensus rating of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $83.20.

A number of equities analysts recently issued reports on FBIN shares. JPMorgan Chase & Co. increased their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group raised their price target on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Loop Capital lowered their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Truist Financial boosted their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $83.16 on Monday. The firm has a fifty day moving average of $75.56 and a 200-day moving average of $74.49. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business posted $1.07 EPS. Fortune Brands Innovations’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts anticipate that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 23rd were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.15%. Fortune Brands Innovations’s payout ratio is currently 29.36%.

Institutional Trading of Fortune Brands Innovations

A number of large investors have recently added to or reduced their stakes in FBIN. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Fortune Brands Innovations by 24.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock valued at $4,607,000 after buying an additional 12,217 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Fortune Brands Innovations by 383.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock valued at $3,015,000 after purchasing an additional 31,406 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Fortune Brands Innovations by 3.6% in the 4th quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock valued at $47,237,000 after purchasing an additional 21,517 shares during the period. Allianz Asset Management GmbH increased its stake in Fortune Brands Innovations by 9.0% in the 4th quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock worth $64,075,000 after purchasing an additional 69,502 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Fortune Brands Innovations by 1,074.0% during the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock worth $2,426,000 after buying an additional 34,184 shares during the period. 87.60% of the stock is currently owned by institutional investors.

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.