Fortune Brands Innovations, Inc. (NYSE:FBIN) Sees Large Decrease in Short Interest

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays dropped their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a report on Tuesday. They issued a “hold” rating and a $70.00 price target on the stock. Royal Bank of Canada reduced 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 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. Finally, The Goldman Sachs Group reduced 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 report on Tuesday, January 14th. 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.com, the stock currently has an average rating of “Hold” and an average price target of $85.25.

Insider Activity

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were 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 in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were 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 owns 7,617 shares of the company’s stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Fortune Brands Innovations Stock Up 0.1 %

FBIN stock traded up $0.03 on Tuesday, reaching $60.91. 1,088,690 shares of the company traded hands, compared to its average volume of 1,302,194. The firm has a fifty day simple moving average of $66.16 and a 200-day simple moving average of $74.67. The company has a market cap 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 has a one year low of $59.58 and a one year high of $90.54. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) 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%. Research analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

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.