Fortune Brands Innovations (NYSE:FBIN) Hits New 1-Year Low - Should You Sell?

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada cut 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 note on Friday, February 7th. The Goldman Sachs Group dropped 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective for the company. UBS Group cut their target price on 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, Barclays decreased their price target on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $84.33.

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Fortune Brands Innovations Stock Up 0.4 %

The stock has a fifty day moving average of $62.31 and a 200-day moving average of $72.52. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.00 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Insider Activity

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kristin Papesh bought 483 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This 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 owned by company insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC acquired a new position in shares of Fortune Brands Innovations in the third quarter worth $262,000. MML Investors Services LLC grew its stake in Fortune Brands Innovations by 7.7% in the third quarter. MML Investors Services LLC now owns 4,674 shares of the company's stock valued at $418,000 after purchasing an additional 335 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Fortune Brands Innovations by 19.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 66,437 shares of the company's stock worth $5,948,000 after purchasing an additional 10,700 shares during the last quarter. M&T Bank Corp raised its stake in shares of Fortune Brands Innovations by 35.5% during the 3rd quarter. M&T Bank Corp now owns 16,620 shares of the company's stock worth $1,488,000 after purchasing an additional 4,354 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $261,000. 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.