Fortune Brands Innovations (NYSE:FBIN) Sets New 12-Month Low – Time to Sell?

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $59.58 and last traded at $60.25, with a volume of 53541 shares trading hands. The stock had previously closed at $60.82.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FBIN. UBS Group reduced their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Barclays dropped their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada decreased their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, The Goldman Sachs Group dropped their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus target price of $86.64.

Fortune Brands Innovations Trading Down 0.6 %

The company has a market cap of $7.41 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.00 and a beta of 1.53. The business has a fifty day simple moving average of $66.71 and a 200 day simple moving average of $74.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Institutional Trading of Fortune Brands Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC raised its holdings in Fortune Brands Innovations by 76.1% during the third quarter. Cerity Partners LLC now owns 30,680 shares of the company’s stock worth $2,747,000 after purchasing an additional 13,263 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth $25,000. BNP Paribas Financial Markets boosted its stake in Fortune Brands Innovations by 2.0% during the third quarter. BNP Paribas Financial Markets now owns 70,144 shares of the company’s stock valued at $6,280,000 after buying an additional 1,379 shares in the last quarter. Townsquare Capital LLC grew its holdings in Fortune Brands Innovations by 13.6% during the third quarter. Townsquare Capital LLC now owns 6,766 shares of the company’s stock worth $606,000 after acquiring an additional 810 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Fortune Brands Innovations by 11.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after acquiring an additional 130,170 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

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.