UBS Group Cuts Fortune Brands Innovations (NYSE:FBIN) Price Target to $90.00

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

A number of other equities analysts have also recently weighed in on the stock. Barclays reduced their price objective on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Robert W. Baird reduced their price target on shares of 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. Evercore ISI lowered their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets increased their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group decreased their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Stock Performance

FBIN opened at $68.20 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.69 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations has a 12-month low of $62.54 and a 12-month high of $90.54. The firm has a 50 day moving average of $72.32 and a two-hundred day moving average of $78.12. The firm has a market capitalization of $8.47 billion, a PE ratio of 18.19, a P/E/G ratio of 2.01 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. On average, 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. Shareholders 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. This represents a $1.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is presently 25.60%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FBIN. FMR LLC increased its position in 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 increased its holdings in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after buying an additional 1,442,195 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at approximately $40,027,000. Arvest Bank Trust Division purchased a new position in Fortune Brands Innovations in the third quarter worth approximately $17,621,000. Finally, Ceredex Value Advisors LLC acquired a new stake in Fortune Brands Innovations during the third quarter worth $13,170,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

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.