Fortune Brands Innovations (NYSE:FBIN) Reaches New 12-Month Low – Should You Sell?

Fortune Brands Innovations, Inc. (NYSE:FBIN) shares hit a new 52-week low on Tuesday . The stock traded as low as $33.70 and last traded at $33.7160, with a volume of 3219396 shares changing hands. The stock had previously closed at $34.37.

Wall Street Analysts Forecast Growth

FBIN has been the subject of several analyst reports. Zacks Research downgraded shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Bank of America reduced their price target on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Truist Financial reduced their price target on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, BMO Capital Markets reduced their price target on shares of Fortune Brands Innovations from $56.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.31.

Fortune Brands Innovations Stock Performance

The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.04 and a current ratio of 2.13. The firm has a market cap of $4.17 billion, a P/E ratio of 15.55, a P/E/G ratio of 2.15 and a beta of 1.40. The business’s 50-day simple moving average is $39.42 and its 200 day simple moving average is $48.24.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s revenue was down 2.1% on a year-over-year basis. As a group, equities analysts predict that Fortune Brands Innovations, Inc. will post 3.14 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, May 22nd. Fortune Brands Innovations’s payout ratio is 46.22%.

Insider Buying and Selling

In related news, Director Edward P. Garden bought 5,900 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $33.28 per share, with a total value of $196,352.00. Following the transaction, the director owned 3,562,767 shares in the company, valued at approximately $118,568,885.76. This trade represents a 0.17% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. increased its stake in shares of Fortune Brands Innovations by 0.8% in the 4th quarter. Osaic Holdings Inc. now owns 24,447 shares of the company’s stock worth $1,223,000 after purchasing an additional 198 shares in the last quarter. Assetmark Inc. lifted its position in Fortune Brands Innovations by 1.2% during the fourth quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock valued at $887,000 after purchasing an additional 208 shares in the last quarter. TD Private Client Wealth LLC lifted its position in Fortune Brands Innovations by 3.0% during the fourth quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company’s stock valued at $366,000 after purchasing an additional 213 shares in the last quarter. UMB Bank n.a. lifted its position in Fortune Brands Innovations by 8.3% during the third quarter. UMB Bank n.a. now owns 2,794 shares of the company’s stock valued at $149,000 after purchasing an additional 215 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Fortune Brands Innovations by 1.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 21,341 shares of the company’s stock valued at $1,139,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

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.