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

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $60.42 and last traded at $60.76, with a volume of 308833 shares. The stock had previously closed at $61.36.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of recent research reports. UBS Group cut their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada cut their price target on 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 reduced their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Finally, Barclays cut their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Fortune Brands Innovations has an average rating of "Hold" and an average target price of $86.64.

Fortune Brands Innovations Stock Performance

The stock's 50-day moving average is $68.63 and its 200 day moving average is $76.35. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

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Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts' consensus estimates 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, analysts predict that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortune Brands Innovations news, EVP Kristin Papesh acquired 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, with a total value 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. The trade was a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations 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 transaction, the executive vice president now owns 10,066 shares of the company's stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of institutional investors and hedge funds have recently bought and sold shares of FBIN. Brooklyn Investment Group purchased a new stake in shares of Fortune Brands Innovations in the third quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new position in Fortune Brands Innovations during the fourth quarter worth approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $55,000. IFP Advisors Inc grew its stake in shares of Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after buying an additional 275 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth $81,000. 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.