Jane Street Group LLC Reduces Stock Holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Jane Street Group LLC trimmed its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 88.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,459 shares of the company's stock after selling 81,533 shares during the period. Jane Street Group LLC's holdings in Fortune Brands Innovations were worth $715,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Fortune Brands Innovations by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company's stock worth $59,094,000 after acquiring an additional 11,722 shares during the last quarter. Trust Point Inc. bought a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $319,000. Raymond James Financial Inc. bought a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $40,027,000. SG Americas Securities LLC lifted its stake in shares of Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock worth $2,292,000 after acquiring an additional 29,867 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Fortune Brands Innovations by 41.9% during the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company's stock worth $1,612,000 after acquiring an additional 6,971 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Insider Activity

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

Fortune Brands Innovations Trading Down 3.2%

FBIN traded down $1.64 during trading on Wednesday, hitting $49.94. 5,099,571 shares of the stock were exchanged, compared to its average volume of 1,518,723. Fortune Brands Innovations, Inc. has a 1 year low of $47.21 and a 1 year high of $90.54. The firm has a 50 day simple moving average of $54.23 and a 200 day simple moving average of $64.98. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 2.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.66. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $0.83 EPS. The business's revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Fortune Brands Innovations's dividend payout ratio is presently 29.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FBIN shares. UBS Group decreased their price target on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research note on Wednesday, May 7th. Robert W. Baird decreased their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Royal Bank of Canada decreased their price target on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Fortune Brands Innovations currently has an average rating of "Hold" and a consensus target price of $77.17.

Fortune Brands Innovations 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.