Fortune Brands Innovations, Inc. (NYSE:FBIN) Director Sells $162,200.00 in Stock

Fortune Brands Innovations, Inc. (NYSE:FBINGet Free Report) Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now directly owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock opened at $81.23 on Thursday. Fortune Brands Innovations, Inc. has a 12-month low of $54.10 and a 12-month high of $83.85. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average price is $79.13 and its two-hundred day moving average price is $70.66. The stock has a market cap of $10.25 billion, a PE ratio of 25.62, a P/E/G ratio of 1.74 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 earnings per share. As a group, analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current fiscal year.

Institutional Trading of Fortune Brands Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the company. Intrepid Capital Management Inc. acquired a new position in Fortune Brands Innovations in the second quarter valued at approximately $25,000. Bessemer Group Inc. acquired a new position in Fortune Brands Innovations in the second quarter valued at approximately $26,000. Tobam raised its position in shares of Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after purchasing an additional 319 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Fortune Brands Innovations during the second quarter worth approximately $27,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter worth approximately $27,000. 87.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FBIN. The Goldman Sachs Group increased their price objective on Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, December 14th. BMO Capital Markets reissued a “market perform” rating and set a $82.00 target price (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Barclays lifted their target price on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, Oppenheimer began coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.63.

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Fortune Brands Innovations Company Profile

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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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