Janus Henderson Group PLC Sells 67,892 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Janus Henderson Group PLC decreased its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 11.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 534,029 shares of the company's stock after selling 67,892 shares during the quarter. Janus Henderson Group PLC owned 0.43% of Fortune Brands Innovations worth $47,812,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of Fortune Brands Innovations by 1,074.0% during the 2nd 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 period. Qsemble Capital Management LP boosted its position in shares of 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 valued at $1,848,000 after acquiring an additional 26,071 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at about $421,000. Teca Partners LP boosted its position in shares of Fortune Brands Innovations by 165.0% during 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 in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Fortune Brands Innovations by 50.2% during the 3rd 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 in the last quarter. Institutional investors own 87.60% of the company's stock.

Wall Street Analyst Weigh In

FBIN has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group boosted their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. UBS Group reduced their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Finally, Truist Financial upped their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.36.

Fortune Brands Innovations Stock Up 0.3 %

FBIN traded up $0.22 during trading hours on Friday, hitting $78.87. 732,662 shares of the company's stock were exchanged, compared to its average volume of 1,189,090. Fortune Brands Innovations, Inc. has a 1-year low of $62.54 and a 1-year high of $90.54. The stock's 50-day moving average is $82.90 and its two-hundred day moving average is $76.75. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.52 and a beta of 1.47. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced 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. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 earnings per share. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations's payout ratio is presently 27.04%.

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.