Short Interest in Fortune Brands Innovations, Inc. (NYSE:FBIN) Declines By 21.3%

Fortune Brands Innovations, Inc. (NYSE:FBIN) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 4,140,000 shares, a decrease of 21.3% from the February 28th total of 5,260,000 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is currently 2.7 days.

Insider Buying and Selling

In related news, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, 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 can be accessed through this link. Also, EVP Ron Wilson sold 1,500 shares of the firm’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 completion of the transaction, the executive vice president now directly 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. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Fortune Brands Innovations

A number of institutional investors and hedge funds have recently bought and sold shares of FBIN. Brooklyn Investment Group bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new position in Fortune Brands Innovations in the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $55,000. IFP Advisors Inc boosted its holdings in Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after acquiring an additional 275 shares during the last quarter. Finally, Siemens Fonds Invest GmbH purchased a new stake in Fortune Brands Innovations in the 4th quarter valued at about $76,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a research note on Tuesday. They set a “hold” rating and a $70.00 target price for the company. Royal Bank of Canada decreased their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group cut their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. UBS Group decreased their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Barclays cut their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.25.

Fortune Brands Innovations Price Performance

Shares of FBIN traded up $0.70 during midday trading on Wednesday, hitting $61.62. The company’s stock had a trading volume of 876,107 shares, compared to its average volume of 1,301,223. The company’s fifty day simple moving average is $66.16 and its two-hundred day simple moving average is $74.67. Fortune Brands Innovations has a one year low of $59.58 and a one year high of $90.54. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth 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%. As a group, equities analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

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.