Jane Street Group LLC Has $715,000 Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Jane Street Group LLC cut its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 88.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,459 shares of the company's stock after selling 81,533 shares during the quarter. Jane Street Group LLC's holdings in Fortune Brands Innovations were worth $715,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. bought a new stake in Fortune Brands Innovations during the fourth quarter valued at about $55,000. IFP Advisors Inc increased its position in Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after buying an additional 275 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $82,000. Finally, Blue Trust Inc. lifted its position in shares of Fortune Brands Innovations by 18.0% during the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock valued at $98,000 after buying an additional 219 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded down $0.41 during midday trading on Friday, hitting $50.69. 321,542 shares of the stock were exchanged, compared to its average volume of 1,917,029. The business has a 50-day moving average price of $53.72 and a two-hundred day moving average price of $64.69. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 2.00 and a beta of 1.49. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.83 EPS. The company's revenue was down 6.9% on a year-over-year basis. Sell-side analysts predict 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target on the stock. Royal Bank of Canada decreased their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 7th. Barclays dropped their price target on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday. Finally, Truist Financial set a $65.00 price target on Fortune Brands Innovations in a report on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average target price of $77.17.

Insider Activity

In other news, EVP Kristin Papesh bought 483 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Fortune Brands Innovations Company 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.