AQR Capital Management LLC Sells 69,182 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

AQR Capital Management LLC lowered its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 43.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 bought and sold shares of FBIN. Flagship Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Fortune Brands Innovations in the 4th quarter worth approximately $55,000. IFP Advisors Inc grew its holdings in shares of Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after acquiring an additional 275 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $82,000. Finally, Blue Trust Inc. boosted its position in Fortune Brands Innovations by 18.0% in the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after purchasing an additional 219 shares during the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Stock Down 9.0 %

Shares of Fortune Brands Innovations stock opened at $48.06 on Thursday. The company's 50 day moving average price is $56.88 and its 200-day moving average price is $68.16. Fortune Brands Innovations, Inc. has a 52-week low of $47.21 and a 52-week high of $90.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 2.00 and a beta of 1.49.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The company's quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FBIN. Robert W. Baird lowered their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday. Barclays cut their price target on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Truist Financial set a $65.00 price objective on Fortune Brands Innovations in a research note on Wednesday. The Goldman Sachs Group cut their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, UBS Group decreased their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $77.50.

Insiders Place Their Bets

In other news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price 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 approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the transaction, the executive vice president now owns 10,066 shares of the company's stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.

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