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

Fortune Brands Innovations, Inc. (NYSE:FBIN) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 4,140,000 shares, a decrease of 21.3% from the February 28th total of 5,260,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 3.4% of the shares of the company are sold short.

Fortune Brands Innovations Stock Down 3.0 %

Shares of Fortune Brands Innovations stock opened at $60.84 on Monday. Fortune Brands Innovations has a 12-month low of $59.64 and a 12-month high of $90.54. The firm has a market capitalization of $7.46 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. 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 stock’s fifty day moving average is $66.71 and its 200-day moving average is $74.97.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Equities analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Analysts Set New Price Targets

FBIN has been the subject of several research analyst reports. Royal Bank of Canada reduced their price objective on shares of 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. UBS Group decreased their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group dropped their target price on 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 decreased their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.64.

Insider Buying and Selling

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The stock was 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Fortune Brands Innovations during the 3rd quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations in the 4th quarter valued at approximately $55,000. IFP Advisors Inc lifted its position in 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 buying an additional 275 shares in the last quarter. Finally, Siemens Fonds Invest GmbH acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at $76,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Company Profile

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.