Fortune Brands Innovations (NYSE:FBIN) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $45.22 and traded as high as $47.14. Fortune Brands Innovations shares last traded at $46.5440, with a volume of 3,879,214 shares.

Key Stories Impacting Fortune Brands Innovations

Here are the key news stories impacting Fortune Brands Innovations this week:

• Positive Sentiment: Wells Fargo raised its price target to $51 from $48 and reiterated an overweight rating, indicating confidence in potential gains. Wells Fargo rating
• Positive Sentiment: Truist lowered its target to $60 from $70 but maintained a buy rating; the new target still implies meaningful upside from the cited share price. Truist rating
• Neutral Sentiment: RBC trimmed its target to $48 from $49 but kept an outperform rating, suggesting only modest expected upside. RBC rating
• Neutral Sentiment: The company appointed Morgan Fox as executive vice president, chief legal officer and corporate secretary, effective December 2. The leadership change may support execution but offers little immediate financial impact. Executive appointment
• Negative Sentiment: Barclays cut its target sharply to $40 from $47 and assigned an equal-weight rating, reflecting a more cautious view. Barclays rating
• Negative Sentiment: Third-quarter results showed pressure: revenue was $1.11 billion, below the $1.12 billion estimate and down 3.1% year over year. Zacks reported EPS of $0.72, below its $0.75 consensus and down from $1.09 a year earlier. A separate report listed EPS of $1.14, so coverage differs on the earnings figure; the company also said it is beginning a multi-year turnaround. Zacks earnings coverage Company results announcement

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FBIN shares. DA Davidson set a $58.00 price objective on Fortune Brands Innovations in a research note on Wednesday. Wells Fargo & Company lifted their price target on Fortune Brands Innovations from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings upgraded shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Barclays decreased their target price on shares of Fortune Brands Innovations from $47.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Zacks Research raised Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.27.

Fortune Brands Innovations Price Performance

The stock has a market cap of $5.64 billion, a PE ratio of 44.57, a PEG ratio of 2.27 and a beta of 1.25. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a 50 day moving average of $41.22 and a two-hundred day moving average of $45.08.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.40. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fortune Brands Innovations had a net margin of 2.94% and a return on equity of 17.62%. Fortune Brands Innovations’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. Equities analysts anticipate that Fortune Brands Innovations, Inc. will post 3.33 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, November 20th. Fortune Brands Innovations’s payout ratio is currently 84.55%.

Insider Buying and Selling

In other Fortune Brands Innovations news, CEO Jesse Singh bought 19,725 shares of the stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $51.66 per share, with a total value of $1,018,993.50. Following the completion of the purchase, the chief executive officer owned 19,725 shares in the company, valued at $1,018,993.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 3.32% of the stock is currently owned by company insiders.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBIN. Cassaday & Co Wealth Management LLC purchased a new position in shares of Fortune Brands Innovations during the 1st quarter valued at $30,000. EFG International AG bought a new position in shares of Fortune Brands Innovations during the second quarter valued at about $32,000. Curry Webb Wealth Management LLC bought a new stake in Fortune Brands Innovations during the 3rd quarter valued at approximately $38,000. Community Bank N.A. increased its stake in shares of Fortune Brands Innovations by 59.4% during the second quarter. Community Bank N.A. now owns 765 shares of the company’s stock valued at $42,000 after purchasing an additional 285 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in Fortune Brands Innovations during the 2nd quarter valued at $47,000. 87.60% of the stock is owned by institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc is a manufacturer and marketer of products used in residential construction, remodeling and commercial applications. The company operates through businesses focused on water management, outdoor living and home safety and security.

Its portfolio includes plumbing products under brands such as Moen and House of Rohl; doors and related products marketed through Therma-Tru; composite decking and outdoor-living products from Fiberon; and locks, safes and security products sold under Master Lock and SentrySafe.