Fortune Brands Innovations (NYSE:FBIN) Hits New 12-Month Low – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FBIN shares. Royal Bank of Canada dropped their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. The Goldman Sachs Group lowered 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 report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations in a research note on Tuesday. They set a “hold” rating and a $70.00 price objective for the company. Barclays lowered their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.25.

Fortune Brands Innovations Trading Up 0.1 %

The stock’s fifty day simple moving average is $66.16 and its 200-day simple moving average is $74.67. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The firm has a market cap of $7.47 billion, a PE ratio of 16.24, a PEG ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last issued its 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 return on equity of 22.05% and a net margin of 10.24%. On average, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Fortune Brands Innovations

A number of hedge funds have recently modified their holdings of FBIN. U.S. Capital Wealth Advisors LLC lifted its holdings in Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock valued at $556,000 after acquiring an additional 138 shares during the period. Atria Wealth Solutions Inc. increased its holdings in shares of Fortune Brands Innovations by 5.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock valued at $222,000 after purchasing an additional 156 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after purchasing an additional 170 shares during the period. Capital Investment Advisors LLC boosted its holdings in Fortune Brands Innovations by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after buying an additional 190 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Fortune Brands Innovations by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after buying an additional 201 shares in the last quarter. 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.