Fortune Brands Innovations (NYSE:FBIN) Hits New 52-Week Low – Should You Sell?

Fortune Brands Innovations, Inc. (NYSE:FBIN)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $50.08 and last traded at $50.87, with a volume of 91498 shares trading hands. The stock had previously closed at $53.03.

Analysts Set New Price Targets

Several brokerages have recently commented on FBIN. Royal Bank of Canada lowered their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. UBS Group dropped their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target on the stock. Barclays decreased their price objective on 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, The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.25.

Fortune Brands Innovations Stock Performance

The stock has a market cap of $6.13 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. 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 stock’s 50 day simple moving average is $65.18 and its two-hundred day simple moving average is $74.08.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. As a group, research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Insider Buying and Selling

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction dated 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 in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kristin Papesh bought 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC grew its stake in shares of Fortune Brands Innovations by 166.1% in the third quarter. Verition Fund Management LLC now owns 10,608 shares of the company’s stock valued at $950,000 after buying an additional 6,622 shares in the last quarter. Investment Management Corp of Ontario bought a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at about $370,000. Point72 Asset Management L.P. acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $11,114,000. Quantinno Capital Management LP raised its holdings in shares of Fortune Brands Innovations by 14.8% in the 3rd quarter. Quantinno Capital Management LP now owns 34,309 shares of the company’s stock valued at $3,072,000 after purchasing an additional 4,426 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at about $262,000. 87.60% of the stock is currently owned by 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.