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

Mesirow Financial Investment Management Inc. trimmed its position in Fortune Brands Innovations, Inc. (NYSE:FBIN) by 3.4% in the fourth quarter, Holdings Channel.com reports. The firm 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 quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBIN. FMR LLC increased its position in Fortune Brands Innovations by 104.5% in the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock worth $530,040,000 after purchasing an additional 3,024,950 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Fortune Brands Innovations during the 4th quarter worth about $40,027,000. Arvest Bank Trust Division acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $17,621,000. Prospector Partners LLC acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $11,953,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Fortune Brands Innovations by 11.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,069 shares of the company’s stock worth $111,650,000 after buying an additional 130,170 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kristin Papesh acquired 483 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

FBIN has been the subject of several analyst reports. Royal Bank of Canada decreased 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. The Goldman Sachs Group decreased 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. Barclays decreased their target price on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Finally, UBS Group decreased 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. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $63.83 on Friday. The firm has a market capitalization of $7.82 billion, a PE ratio of 17.02, a P/E/G ratio of 2.00 and a beta of 1.53. The stock has a 50 day simple moving average of $68.99 and a 200 day simple moving average of $76.71. 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, Inc. has a 52-week low of $60.81 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 EPS 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%. Sell-side analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.25 dividend. 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. This represents a $1.00 annualized dividend and a yield of 1.57%. Fortune Brands Innovations’s payout ratio is presently 26.67%.

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.