Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Holdings Boosted by Aviva PLC

Aviva PLC boosted its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 885.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 249,160 shares of the company’s stock after buying an additional 223,884 shares during the period. Aviva PLC’s holdings in Fortune Brands Innovations were worth $17,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Fortune Brands Innovations by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock worth $821,840,000 after buying an additional 68,404 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Fortune Brands Innovations by 2.6% during the 4th quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company’s stock valued at $303,792,000 after acquiring an additional 114,391 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Fortune Brands Innovations by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock worth $196,153,000 after acquiring an additional 1,110,021 shares in the last quarter. Amundi grew its holdings in shares of Fortune Brands Innovations by 166.8% in the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after acquiring an additional 1,442,195 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Fortune Brands Innovations by 1.9% during the fourth quarter. Nordea Investment Management AB now owns 1,916,782 shares of the company’s stock worth $132,335,000 after purchasing an additional 35,289 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kristin Papesh acquired 483 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the purchase, the executive vice president now directly owns 7,617 shares in the company, valued at $472,177.83. This represents 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.

Fortune Brands Innovations Stock Down 4.1 %

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

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. Equities research analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FBIN shares. Barclays dropped their price target on 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. UBS Group cut their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada decreased their price objective 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. The Goldman Sachs Group cut their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 target price for the company. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average target price of $85.25.

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.