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

Jane Street Group LLC cut its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 77.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,992 shares of the company's stock after selling 314,458 shares during the quarter. Jane Street Group LLC owned 0.07% of Fortune Brands Innovations worth $8,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FBIN. Van ECK Associates Corp grew its holdings in shares of Fortune Brands Innovations by 1,074.0% during the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company's stock worth $2,426,000 after purchasing an additional 34,184 shares during the last quarter. Qsemble Capital Management LP boosted its position in Fortune Brands Innovations by 1,091.8% during the 2nd quarter. Qsemble Capital Management LP now owns 28,459 shares of the company's stock worth $1,848,000 after buying an additional 26,071 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in Fortune Brands Innovations during the 2nd quarter worth approximately $421,000. Teca Partners LP increased its position in Fortune Brands Innovations by 165.0% in the 2nd quarter. Teca Partners LP now owns 233,229 shares of the company's stock valued at $15,146,000 after acquiring an additional 145,229 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Fortune Brands Innovations by 50.2% during the third quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company's stock valued at $3,053,000 after acquiring an additional 11,400 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FBIN shares. Evercore ISI cut their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating on the stock in a research note on Thursday, November 7th. Barclays boosted their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, Robert W. Baird decreased their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $91.36.

Fortune Brands Innovations Stock Down 2.0 %

Shares of FBIN stock traded down $1.58 on Friday, hitting $75.85. The stock had a trading volume of 756,019 shares, compared to its average volume of 1,183,667. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The business has a 50 day moving average of $81.66 and a 200 day moving average of $77.04. Fortune Brands Innovations, Inc. has a 12-month low of $62.54 and a 12-month high of $90.54. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 2.51 and a beta of 1.47.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted $1.19 earnings per share. Fortune Brands Innovations's revenue was down 8.4% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.32%. This is a positive change from Fortune Brands Innovations's previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations's dividend payout ratio is 28.17%.

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.