Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its holdings in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 645,576 shares of the company's stock after selling 47,210 shares during the quarter. Janus Henderson Group PLC owned about 0.52% of Fortune Brands Innovations worth $54,660,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Choreo LLC acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter worth about $422,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Fortune Brands Innovations by 24.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company's stock valued at $4,607,000 after acquiring an additional 12,217 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Fortune Brands Innovations by 383.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company's stock valued at $3,015,000 after acquiring an additional 31,406 shares in the last quarter. Schroder Investment Management Group raised its holdings in Fortune Brands Innovations by 3.6% in the fourth quarter. Schroder Investment Management Group now owns 620,402 shares of the company's stock valued at $47,237,000 after acquiring an additional 21,517 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Fortune Brands Innovations by 9.0% in the fourth quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company's stock valued at $64,075,000 after acquiring an additional 69,502 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN traded up $1.71 during mid-day trading on Tuesday, reaching $81.40. 1,581,199 shares of the company's stock were exchanged, compared to its average volume of 1,227,803. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The stock has a market capitalization of $10.18 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.60 and a beta of 1.52. The business's fifty day simple moving average is $68.37 and its 200-day simple moving average is $74.79. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.92.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.07 earnings per share. On average, equities research analysts expect that Fortune Brands Innovations, Inc. will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Friday, August 23rd will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. Fortune Brands Innovations's dividend payout ratio (DPR) is 29.36%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FBIN shares. Robert W. Baird raised their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, May 1st. The Goldman Sachs Group raised their target price on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the company a "buy" rating in a report on Friday. Evercore ISI cut their price objective on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an "in-line" rating on the stock in a report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a "sector perform" rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a "neutral" rating in a report on Tuesday. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $83.20.

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.

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