Jane Street Group LLC Sells 314,458 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Jane Street Group LLC trimmed its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 77.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,992 shares of the company’s stock after selling 314,458 shares during the period. Jane Street Group LLC’s holdings in Fortune Brands Innovations were worth $8,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations in the third quarter worth $25,000. Family Firm Inc. bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter worth about $31,000. Brown Brothers Harriman & Co. raised its position in shares of Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after buying an additional 437 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $54,000. Finally, Blue Trust Inc. lifted its holdings in shares of Fortune Brands Innovations by 37.0% in the 2nd quarter. Blue Trust Inc. now owns 899 shares of the company’s stock valued at $58,000 after acquiring an additional 243 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FBIN shares. Jefferies Financial Group upped their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird decreased their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Truist Financial increased their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Trading Down 2.0 %

Shares of FBIN opened at $75.85 on Friday. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 2.51 and a beta of 1.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The company has a 50-day moving average of $81.66 and a 200 day moving average of $77.04.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company’s revenue was down 8.4% on a year-over-year basis. On average, research analysts expect that Fortune Brands Innovations, Inc. will post 4.19 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

About Fortune Brands Innovations

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.