Fortune Brands Innovations, Inc. (NYSE:FBIN) Short Interest Update

by · The Cerbat Gem

Fortune Brands Innovations, Inc. (NYSE:FBIN – Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 5,070,000 shares, an increase of 22.5% from the March 15th total of 4,140,000 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average trading volume of 1,800,000 shares, the short-interest ratio is currently 2.8 days.

Insider Activity

In other Fortune Brands Innovations 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 completion of the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kristin Papesh bought 483 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors and hedge funds have recently made changes to their positions in FBIN. Flagship Wealth Advisors LLC purchased a new stake in Fortune Brands Innovations in the fourth quarter worth approximately $31,000. CX Institutional purchased a new position in shares of Fortune Brands Innovations during the 1st quarter worth $29,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at $55,000. IFP Advisors Inc increased its stake in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock worth $62,000 after purchasing an additional 275 shares in the last quarter. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of Fortune Brands Innovations during the 4th quarter valued at about $76,000. Institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of analyst reports. The Goldman Sachs Group decreased 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. UBS Group reduced their price target on shares of 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 lowered their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. 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 target on the stock. Finally, Barclays dropped their price objective on Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.33.

View Our Latest Stock Analysis on Fortune Brands Innovations

Fortune Brands Innovations Stock Down 2.9 %

Fortune Brands Innovations stock traded down $1.48 during mid-day trading on Monday, hitting $49.99. The company had a trading volume of 1,334,534 shares, compared to its average volume of 1,397,453. Fortune Brands Innovations has a 12 month low of $47.21 and a 12 month high of $90.54. The company has a market capitalization of $6.06 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The stock’s 50 day moving average price is $60.55 and its two-hundred day moving average price is $71.11. 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 announced its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Company Profile

(Get Free Report)

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.

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