AQR Capital Management LLC Has $9.39 Million Holdings in Fortune Brands Innovations, Inc. $FBIN

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Fortune Brands Innovations by 113.5% during the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock worth $373,079,000 after acquiring an additional 3,257,428 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Fortune Brands Innovations by 9.2% during the 1st quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock worth $295,598,000 after acquiring an additional 409,466 shares in the last quarter. Amundi boosted its position in shares of Fortune Brands Innovations by 24.1% during the 1st quarter. Amundi now owns 2,861,900 shares of the company's stock worth $169,975,000 after acquiring an additional 555,036 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fortune Brands Innovations by 22.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company's stock worth $143,130,000 after acquiring an additional 426,929 shares in the last quarter. Finally, Fiduciary Management Inc. WI boosted its position in shares of Fortune Brands Innovations by 12.8% during the 1st quarter. Fiduciary Management Inc. WI now owns 2,291,860 shares of the company's stock worth $139,528,000 after acquiring an additional 260,218 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on FBIN. Barclays increased their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Truist Financial reiterated a "hold" rating and set a $60.00 price target (down previously from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday, August 27th. UBS Group increased their price target on shares of Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Loop Capital reissued a "hold" rating and issued a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research note on Monday, August 4th. Finally, Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $59.00 to $65.00 in a research note on Friday, August 1st. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Fortune Brands Innovations currently has an average rating of "Hold" and a consensus price target of $75.45.

Insider Activity

In other news, CEO Nicholas I. Fink sold 29,792 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the completion of the transaction, the chief executive officer owned 180,625 shares of the company's stock, valued at approximately $10,664,100. This trade represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded down $1.31 on Friday, hitting $59.44. The company had a trading volume of 1,909,758 shares, compared to its average volume of 1,369,917. The firm has a 50 day moving average of $56.93 and a two-hundred day moving average of $55.63. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 4.17 and a beta of 1.32. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

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

Fortune Brands Innovations Announces Dividend

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

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.