Aviva PLC Buys 223,884 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Aviva PLC raised its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 885.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 249,160 shares of the company's stock after purchasing an additional 223,884 shares during the quarter. Aviva PLC owned 0.20% of Fortune Brands Innovations worth $17,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FBIN. Charles Schwab Investment Management Inc. lifted its position in Fortune Brands Innovations by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company's stock valued at $59,094,000 after purchasing an additional 11,722 shares in the last quarter. Trust Point Inc. purchased a new position in shares of Fortune Brands Innovations during the 4th quarter valued at about $319,000. Raymond James Financial Inc. bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at approximately $40,027,000. SG Americas Securities LLC increased its holdings in Fortune Brands Innovations by 812.5% in the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company's stock worth $2,292,000 after acquiring an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Fortune Brands Innovations by 41.9% in the 4th quarter. M&T Bank Corp now owns 23,591 shares of the company's stock worth $1,612,000 after acquiring an additional 6,971 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

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Fortune Brands Innovations Trading Up 0.4 %

FBIN traded up $0.22 during trading on Friday, reaching $51.70. The company had a trading volume of 3,610,461 shares, compared to its average volume of 1,382,300. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations, Inc. has a 52 week low of $47.21 and a 52 week high of $90.54. The stock has a market cap of $6.27 billion, a P/E ratio of 13.79, a PEG ratio of 2.00 and a beta of 1.42. The business has a 50 day simple moving average of $62.31 and a 200-day simple moving average of $72.41.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. On average, equities analysts anticipate that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FBIN. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price target for the company. 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 report on Tuesday, January 14th. UBS Group decreased their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Barclays dropped their price objective on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada decreased their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of "Hold" and an average price target of $84.33.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company's 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 transaction, the executive vice president now owns 10,066 shares of the company's stock, valued at $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kristin Papesh bought 483 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

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.