Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Price Target at $79.22

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned an average rating of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $79.22.

Several research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating on the stock. Robert W. Baird upped their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI cut their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 1st. Finally, Barclays upped their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st.

Insider Transactions at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth $91,504,000. American Century Companies Inc. lifted its position in shares of Fortune Brands Innovations by 1,439.7% during the 3rd quarter. American Century Companies Inc. now owns 665,475 shares of the company’s stock valued at $41,366,000 after acquiring an additional 622,253 shares during the period. Nordea Investment Management AB boosted its stake in shares of Fortune Brands Innovations by 62.8% during the 4th quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company’s stock worth $105,888,000 after acquiring an additional 534,901 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Fortune Brands Innovations by 110.8% in the 3rd quarter. Royal Bank of Canada now owns 779,237 shares of the company’s stock worth $48,438,000 after acquiring an additional 409,598 shares during the period. Finally, Invesco Ltd. increased its stake in Fortune Brands Innovations by 64.5% in the 3rd quarter. Invesco Ltd. now owns 892,752 shares of the company’s stock valued at $55,493,000 after purchasing an additional 350,082 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 2.5 %

FBIN stock opened at $75.12 on Tuesday. The company’s 50 day moving average price is $78.43 and its 200 day moving average price is $74.72. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.02 and a beta of 1.58. Fortune Brands Innovations has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.08 and a current ratio of 2.04.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. On average, equities research analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be issued a $0.24 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. Fortune Brands Innovations’s payout ratio is 29.36%.

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.