Fortune Brands Innovations (NYSE:FBIN) Sets New 1-Year Low – What’s Next?

Fortune Brands Innovations, Inc. (NYSE:FBIN) shares hit a new 52-week low on Monday . The stock 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FBIN shares. The Goldman Sachs Group decreased 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. Barclays decreased their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research report on Tuesday. They issued a “hold” rating and a $70.00 price target for the company. UBS Group decreased their price objective 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. Finally, Royal Bank of Canada lowered their price objective on 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. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and an average target price of $85.25.

Fortune Brands Innovations Price Performance

The stock has a 50 day moving average of $66.16 and a 200-day moving average of $74.67. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $7.47 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristin Papesh acquired 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction 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 $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock valued at $59,094,000 after acquiring an additional 11,722 shares in the last quarter. Trust Point Inc. purchased a new position in Fortune Brands Innovations during the 4th quarter valued at about $319,000. Raymond James Financial Inc. bought a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at about $40,027,000. SG Americas Securities LLC raised its holdings in shares of Fortune Brands Innovations by 812.5% in the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock valued at $2,292,000 after purchasing an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock worth $1,612,000 after purchasing an additional 6,971 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.