Fortune Brands Innovations (NYSE:FBIN) Sets New 1-Year High at $85.24

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $85.24 and last traded at $85.24, with a volume of 39789 shares changing hands. The stock had previously closed at $84.10.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FBIN shares. JPMorgan Chase & Co. raised 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. Loop Capital dropped their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Barclays lifted their target price on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Truist Financial boosted their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.20.

Fortune Brands Innovations Stock Performance

The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The stock has a 50-day moving average price of $75.95 and a 200-day moving average price of $74.51. The firm has a market capitalization of $10.70 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. Fortune Brands Innovations’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.24 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.12%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 29.36%.

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in Fortune Brands Innovations in the fourth quarter worth about $29,000. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations in the 1st quarter worth approximately $34,000. Rise Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $38,000. Family Firm Inc. acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at approximately $31,000. Finally, Optimum Investment Advisors bought a new position in Fortune Brands Innovations during the first quarter worth $42,000. Institutional investors 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.