Fortune Brands Innovations, Inc. $FBIN Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Fortune Brands Innovations by 75.5%, acquiring an additional 67,206 shares during the 1st quarter, bringing its total ownership to 156,186 shares valued at approximately $9.39 million.
• Fortune Brands Innovations has received mixed ratings from analysts, with five recommending a Buy rating and six a Hold rating, alongside a revised consensus price target of $75.45.
• CEO Nicholas I. Fink sold 29,792 shares at around $59 each, marking a 14.16% decrease in his ownership, while insiders collectively hold 1.00% of the company's stock.

AQR Capital Management LLC grew its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 75.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,186 shares of the company's stock after purchasing an additional 67,206 shares during the period. AQR Capital Management LLC owned approximately 0.13% of Fortune Brands Innovations worth $9,386,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. von Borstel & Associates Inc. purchased a new position in Fortune Brands Innovations during the 1st quarter valued at about $26,000. National Pension Service lifted its holdings in Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after purchasing an additional 199 shares in the last quarter. CX Institutional acquired a new stake in shares of Fortune Brands Innovations during the 1st quarter worth about $29,000. Quarry LP purchased a new stake in shares of Fortune Brands Innovations during the first quarter worth about $60,000. Finally, Raleigh Capital Management Inc. raised its position in shares of Fortune Brands Innovations by 28.2% in the first quarter. Raleigh Capital Management Inc. now owns 1,017 shares of the company's stock valued at $62,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Insider Buying and Selling

In related news, CEO Nicholas I. Fink sold 29,792 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at approximately $10,664,100. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company's stock.

Fortune Brands Innovations Trading Down 0.1%

Shares of Fortune Brands Innovations stock traded down $0.05 during trading hours on Tuesday, hitting $58.42. The company's stock had a trading volume of 1,486,804 shares, compared to its average volume of 1,365,821. The business has a fifty day moving average of $57.16 and a 200 day moving average of $55.47. Fortune Brands Innovations, Inc. has a 1-year low of $47.21 and a 1-year high of $90.54. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $7.01 billion, a PE ratio of 18.37, a P/E/G ratio of 4.01 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the company earned $1.16 EPS. The firm's revenue was down 3.0% on a year-over-year basis. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. As a group, equities analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 22nd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is presently 31.45%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen raised shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Barclays lifted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $59.00 to $65.00 in a research note on Friday, August 1st. Truist Financial reaffirmed a "hold" rating and set a $60.00 price objective (down previously from $65.00) on shares of Fortune Brands Innovations in a research note on Wednesday, August 27th. Finally, Loop Capital reiterated a "hold" rating and set a $61.00 price objective (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $75.45.

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.