Fortune Brands Innovations, Inc. (NYSE:FBIN) Shares Purchased by Aviva PLC

Aviva PLC boosted its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 885.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 249,160 shares of the company’s stock after acquiring an additional 223,884 shares during the quarter. Aviva PLC owned about 0.20% of Fortune Brands Innovations worth $17,025,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new position in Fortune Brands Innovations in the 4th quarter worth $55,000. IFP Advisors Inc boosted its position in Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after buying an additional 275 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $82,000. Finally, Blue Trust Inc. grew its stake in shares of Fortune Brands Innovations by 18.0% during the fourth quarter. Blue Trust Inc. now owns 1,436 shares of the company’s stock valued at $98,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target for the company. UBS Group decreased their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada dropped their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Barclays reduced their price objective on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.25.

Fortune Brands Innovations Price Performance

FBIN opened at $50.85 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $64.71 and its 200 day moving average price is $73.82. Fortune Brands Innovations, Inc. has a fifty-two week low of $50.04 and a fifty-two week high of $90.54. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The stock was 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. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kristin Papesh purchased 483 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.

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.