Fortune Brands Innovations (NYSE:FBIN) Given New $90.00 Price Target at UBS Group

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

Several other brokerages also recently commented on FBIN. 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. BMO Capital Markets lifted their price objective on shares of 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. Evercore ISI decreased their target price on shares of 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 cut their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Price Performance

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 company has a 50 day moving average of $72.32 and a two-hundred day moving average of $78.01. The company has a market cap of $8.47 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.09 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 quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. On average, analysts expect that Fortune Brands Innovations will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.47%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Fortune Brands Innovations by 104.5% in the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after buying an additional 3,024,950 shares during the period. Amundi boosted its stake in Fortune Brands Innovations by 166.8% in the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after acquiring an additional 1,442,195 shares during the period. Raymond James Financial Inc. bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $40,027,000. Arvest Bank Trust Division acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth approximately $17,621,000. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth approximately $13,170,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

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.