Fortune Brands Innovations (NYSE:FBIN) Reaches New 1-Year Low - Here's Why

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $60.81 and last traded at $61.33, with a volume of 463105 shares changing hands. The stock had previously closed at $63.11.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several recent analyst reports. UBS Group cut their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th. Barclays cut their price target 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. The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, Royal Bank of Canada cut their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $86.64.

Fortune Brands Innovations Stock Up 1.0 %

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 company has a market cap of $7.82 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 2.00 and a beta of 1.53. The stock has a fifty day moving average price of $69.10 and a two-hundred day moving average price of $76.81.

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Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its 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.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 26.67%.

Insider Buying and Selling

In related news, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction 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 in the company, valued at approximately $693,950.04. This trade 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 accessible through this link. Also, EVP Kristin Papesh purchased 483 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the transaction, the executive vice president now directly 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 owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FBIN. Brooklyn Investment Group bought a new position in Fortune Brands Innovations in the third quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new position in Fortune Brands Innovations in the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new position in Fortune Brands Innovations in the fourth quarter valued at about $55,000. IFP Advisors Inc grew its position in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after acquiring an additional 275 shares during the last quarter. Finally, Siemens Fonds Invest GmbH bought a new position in Fortune Brands Innovations in the fourth quarter valued at about $76,000. 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.