Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fortune Brands Innovations Inc shares valued at $162,204 were sold by WATERS RONALD V on Mar 11 ’24. At $81.10 per share, WATERS RONALD V sold 2,000 shares. The insider’s holdings dropped to 2,435 shares worth approximately $0.18 million following the completion of this transaction.
Also, PHYFER CHERI M sold 19,530 shares, netting a total of over 1,593,671 in proceeds. Following the sale of shares at $81.60 each, the insider now holds 64,918 shares.
Before that, HACKETT ANN F had sold 4,835 shares from its account. In a trade valued at $318,059, the Director traded Fortune Brands Innovations Inc shares for $65.78 each. Upon closing the transaction, the insider’s holdings decreased to 4,835 shares, worth approximately $2.55 million.
As published in a research note from BMO Capital Markets on January 31, 2024, Fortune Brands Innovations Inc [FBIN] has been rated down from an Outperform to a Market perform and the price target has been revised to $82 from $76. Analysts at Oppenheimer started covering the stock with ‘”a Perform”‘ outlook in a report released in mid January. Earlier on April 28, 2023, Jefferies upgraded its rating. Their new recommendation was “a Buy” for FBIN stock which previously was a “a Hold”.
Analyzing FBIN Stock Performance
During the last five days, there has been a drop of approximately -0.49%. Over the course of the year, Fortune Brands Innovations Inc shares have dropped approximately -3.84%. Shares of the company reached a 52-week high of $84.92 on 04/01/24 and a 52-week low of $71.42 on 04/25/24. A 50-day SMA is recorded $79.72, while a 200-day SMA reached $71.87. Nevertheless, trading volume fell to 1.39 million shares from 1.29 million shares the previous day.
Support And Resistance Levels for Fortune Brands Innovations Inc (FBIN)
According to the 24-hour chart, there is a support level at 72.01, which, if violated, would cause prices to drop to 70.81. In the upper region, resistance lies at 73.83. The next price resistance is at 74.45. RSI (Relative Strength Index) is 32.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.03, which suggests the price will decrease in the coming days. Percent R is at 83.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
