UBS Group Has Lowered Expectations for Fortune Brands Innovations (NYSE:FBIN) Stock Price

Fortune Brands Innovations (NYSE:FBIN) had its target price lowered by UBS Group from $93.00 to $90.00 in a report released on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

FBIN has been the subject of a number of other reports. Evercore ISI decreased their target price 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. BMO Capital Markets lifted their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Robert W. Baird lowered their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. The Goldman Sachs Group reduced their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial boosted their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $86.64.

Fortune Brands Innovations Stock Down 1.2 %

NYSE:FBIN opened at $68.20 on Friday. Fortune Brands Innovations has a 52 week low of $62.54 and a 52 week high of $90.54. The stock’s fifty day moving average is $72.32 and its two-hundred day moving average is $78.12. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 2.01 and a beta of 1.50. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.25% and a net margin of 10.24%. Research analysts anticipate that Fortune Brands Innovations will post 4.53 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. Fortune Brands Innovations’s dividend payout ratio is presently 25.60%.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the last quarter. Amundi boosted its position in shares of Fortune Brands Innovations by 166.8% in the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after purchasing an additional 1,442,195 shares during the period. Raymond James Financial Inc. purchased a new position in Fortune Brands Innovations during the 4th quarter worth approximately $40,027,000. Arvest Bank Trust Division acquired a new position in Fortune Brands Innovations during the third quarter worth approximately $17,621,000. Finally, Ceredex Value Advisors LLC acquired a new position in Fortune Brands Innovations during the third quarter worth approximately $13,170,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

About Fortune Brands Innovations

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.