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

Janus Henderson Group PLC lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 645,576 shares of the company’s stock after selling 47,210 shares during the quarter. Janus Henderson Group PLC’s holdings in Fortune Brands Innovations were worth $54,660,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Fiduciary Management Inc. WI boosted its stake in Fortune Brands Innovations by 19.4% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,986,070 shares of the company’s stock valued at $151,219,000 after buying an additional 322,472 shares in the last quarter. Nordea Investment Management AB boosted its stake in Fortune Brands Innovations by 6.8% during the first quarter. Nordea Investment Management AB now owns 1,480,177 shares of the company’s stock valued at $125,386,000 after buying an additional 94,022 shares in the last quarter. Norges Bank bought a new position in Fortune Brands Innovations during the fourth quarter valued at about $91,504,000. Allianz Asset Management GmbH boosted its stake in Fortune Brands Innovations by 9.0% during the fourth quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock valued at $64,075,000 after buying an additional 69,502 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Fortune Brands Innovations by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 835,904 shares of the company’s stock valued at $63,646,000 after buying an additional 13,340 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Analyst Ratings Changes

FBIN has been the subject of several research reports. Barclays raised their target price on Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada increased their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday. Robert W. Baird raised their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Loop Capital cut their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. raised their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations has a consensus rating of “Hold” and an average price target of $83.20.

Fortune Brands Innovations Stock Performance

FBIN traded up $1.71 during midday trading on Tuesday, reaching $81.40. The company’s stock had a trading volume of 1,581,199 shares, compared to its average volume of 1,227,803. The stock has a market cap of $10.18 billion, a P/E ratio of 24.89, a PEG ratio of 2.60 and a beta of 1.52. The company has a fifty day simple moving average of $68.37 and a 200 day simple moving average of $74.79. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. Fortune Brands Innovations, Inc. has a twelve month low of $54.10 and a twelve month high of $84.92.

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

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, August 23rd. Fortune Brands Innovations’s payout ratio is presently 29.36%.

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.