Mesirow Financial Investment Management Inc. Sells 2,991 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Mesirow Financial Investment Management Inc. lessened its stake in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) by 46.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,420 shares of the company’s stock after selling 2,991 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Fortune Brands Innovations were worth $222,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Fortune Brands Innovations by 8.9% during the 1st quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock worth $139,000 after acquiring an additional 134 shares in the last quarter. Choreo LLC boosted its stake in Fortune Brands Innovations by 2.9% during the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after purchasing an additional 163 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after purchasing an additional 168 shares during the period. Graypoint LLC boosted its stake in Fortune Brands Innovations by 5.7% during the 2nd quarter. Graypoint LLC now owns 3,250 shares of the company’s stock valued at $211,000 after purchasing an additional 175 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in Fortune Brands Innovations by 10.7% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,848 shares of the company’s stock valued at $120,000 after purchasing an additional 179 shares during the period. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $85.08 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The company has a market capitalization of $10.64 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51. Fortune Brands Innovations, Inc. has a one year low of $54.10 and a one year high of $85.84. The business has a 50 day simple moving average of $75.95 and a 200 day simple moving average of $74.51.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. Fortune Brands Innovations’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS. On average, sell-side analysts forecast that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.96 annualized dividend and a yield of 1.13%. Fortune Brands Innovations’s payout ratio is 29.36%.

Analyst Ratings Changes

FBIN has been the subject of several recent analyst reports. Barclays increased their target price on Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Truist Financial upped their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. Loop Capital cut their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Finally, The Goldman Sachs Group upped their price target on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Hold” and a consensus target price of $83.20.

Fortune Brands Innovations 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.