AQR Capital Management LLC Cuts Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

AQR Capital Management LLC decreased its holdings in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 43.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,980 shares of the company's stock after selling 69,182 shares during the quarter. AQR Capital Management LLC owned 0.07% of Fortune Brands Innovations worth $6,080,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FBIN. U.S. Capital Wealth Advisors LLC raised its stake in shares of Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company's stock valued at $556,000 after buying an additional 138 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company's stock valued at $222,000 after buying an additional 156 shares during the period. UMB Bank n.a. raised its stake in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company's stock valued at $115,000 after buying an additional 170 shares during the period. Capital Investment Advisors LLC raised its stake in shares of Fortune Brands Innovations by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company's stock valued at $208,000 after buying an additional 190 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Fortune Brands Innovations by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company's stock valued at $260,000 after buying an additional 201 shares during the period. Institutional investors own 87.60% of the company's stock.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh acquired 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company's stock.

Fortune Brands Innovations Price Performance

NYSE FBIN traded down $0.32 during trading on Tuesday, reaching $57.07. The company's stock had a trading volume of 445,099 shares, compared to its average volume of 1,452,787. The stock has a market capitalization of $6.86 billion, a PE ratio of 15.22, a P/E/G ratio of 2.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The firm has a fifty day moving average of $56.34 and a 200 day moving average of $67.19. Fortune Brands Innovations, Inc. has a one year low of $47.21 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting analysts' consensus estimates of $0.66. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company earned $0.83 EPS. The company's quarterly revenue was down 6.9% compared to the same quarter last year. Analysts expect that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on FBIN. The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Barclays lowered their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. UBS Group decreased their price objective on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada decreased their price objective on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 7th. Finally, Robert W. Baird decreased their price objective on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $77.17.

About Fortune Brands Innovations

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.