Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Position Trimmed by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its position in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,888 shares of the company's stock after selling 93,141 shares during the period. Janus Henderson Group PLC owned approximately 0.35% of Fortune Brands Innovations worth $30,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FBIN. Flagship Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at $55,000. IFP Advisors Inc grew its holdings in Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after purchasing an additional 275 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Fortune Brands Innovations during the 4th quarter worth $82,000. Finally, Blue Trust Inc. lifted its holdings in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after buying an additional 219 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FBIN shares. Barclays lowered their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. UBS Group reduced their price target on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. 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 objective for the company. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Finally, Robert W. Baird decreased their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $77.17.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. The trade was a 6.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of NYSE FBIN traded up $0.05 during trading on Tuesday, reaching $54.66. The stock had a trading volume of 231,336 shares, compared to its average volume of 1,479,227. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock has a market cap of $6.57 billion, a PE ratio of 14.57, a P/E/G ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54. The firm's 50 day moving average price is $55.59 and its two-hundred day moving average price is $66.17.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, meeting the consensus estimate 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 in the previous year, the firm earned $0.83 earnings per share. The firm's revenue for the quarter was down 6.9% compared to the same quarter last year. On average, research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, May 27th. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 29.33%.

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.