Mesirow Financial Investment Management Inc. Has $424,000 Stock Position in Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mesirow Financial Investment Management Inc. decreased its stake in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,212 shares of the company’s stock after selling 217 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Fortune Brands Innovations were worth $424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Andra AP fonden grew its stake in shares of Fortune Brands Innovations by 113.6% in the fourth quarter. Andra AP fonden now owns 84,600 shares of the company’s stock worth $5,781,000 after acquiring an additional 45,000 shares during the last quarter. Inceptionr LLC acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $1,500,000. Raymond James Financial Inc. acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $40,027,000. Arizona State Retirement System grew its stake in shares of Fortune Brands Innovations by 0.6% in the fourth quarter. Arizona State Retirement System now owns 36,048 shares of the company’s stock worth $2,463,000 after acquiring an additional 213 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $3,957,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 1.0 %

Shares of NYSE FBIN opened at $63.83 on Friday. The stock has a market cap of $7.82 billion, a PE ratio of 17.02, a PEG ratio of 2.00 and a beta of 1.53. The business has a fifty day moving average of $68.99 and a two-hundred day moving average of $76.71. Fortune Brands Innovations, Inc. has a 52-week low of $60.81 and a 52-week high of $90.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25.

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

Fortune Brands Innovations Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, February 21st. Fortune Brands Innovations’s payout ratio is currently 26.67%.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction dated 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 directly owns 10,066 shares of the company’s stock, valued at $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kristin Papesh purchased 483 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, with a total value 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 $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FBIN shares. Barclays lowered 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. UBS Group reduced their target price on 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 reduced their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, The Goldman Sachs Group reduced their target price on 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $86.64.

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.