Fortune Brands Innovations, Inc. (NYSE:FBIN) Short Interest Up 18.0% in March

Fortune Brands Innovations, Inc. (NYSE:FBIN) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 6,715,066 shares, an increase of 18.0% from the February 26th total of 5,690,721 shares. Currently, 5.7% of the company’s stock are short sold. Based on an average trading volume of 2,830,224 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Aquatic Capital Management LLC boosted its holdings in shares of Fortune Brands Innovations by 75.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 95,042 shares of the company’s stock valued at $5,074,000 after acquiring an additional 40,898 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Fortune Brands Innovations by 118.3% during the third quarter. Rafferty Asset Management LLC now owns 97,063 shares of the company’s stock valued at $5,182,000 after purchasing an additional 52,598 shares during the period. Victory Capital Management Inc. boosted its holdings in Fortune Brands Innovations by 169.3% in the third quarter. Victory Capital Management Inc. now owns 840,303 shares of the company’s stock worth $44,864,000 after purchasing an additional 528,237 shares during the last quarter. Thematics Asset Management purchased a new stake in Fortune Brands Innovations in the third quarter worth approximately $12,287,000. Finally, First Trust Advisors LP grew its position in Fortune Brands Innovations by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 1,165,342 shares of the company’s stock worth $59,992,000 after purchasing an additional 97,662 shares during the period. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Stock Down 1.9%

NYSE:FBIN opened at $38.22 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.89 and a current ratio of 1.84. The firm has a market cap of $4.58 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.66 and a beta of 1.49. Fortune Brands Innovations has a fifty-two week low of $37.07 and a fifty-two week high of $64.84. The firm has a 50-day simple moving average of $50.41 and a two-hundred day simple moving average of $51.41.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, February 12th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.14). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.14 billion. Fortune Brands Innovations had a return on equity of 18.54% and a net margin of 6.70%.The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. Analysts predict that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FBIN shares. UBS Group reissued a “buy” rating and issued a $70.00 target price on shares of Fortune Brands Innovations in a research report on Friday, February 13th. Wolfe Research set a $64.00 target price on shares of Fortune Brands Innovations in a report on Friday, February 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortune Brands Innovations in a research report on Monday, December 29th. Zacks Research downgraded shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, Robert W. Baird set a $55.00 price target on Fortune Brands Innovations in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.09.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.