Fortune Brands Innovations, Inc. Declares Quarterly Dividend of $0.25 (NYSE:FBIN)

Fortune Brands Innovations, Inc. (NYSE:FBIN) announced a quarterly dividend on Wednesday, May 14th, Wall Street Journal reports. Investors of record on Tuesday, May 27th will be given a dividend of 0.25 per share on Wednesday, June 11th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, May 27th.

Fortune Brands Innovations has decreased its dividend payment by an average of 2.6% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Fortune Brands Innovations has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Fortune Brands Innovations to earn $4.75 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.1%.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $54.90 on Thursday. The firm has a market capitalization of $6.60 billion, a P/E ratio of 14.64, a PEG ratio of 2.00 and a beta of 1.49. The business has a 50-day moving average of $56.03 and a 200-day moving average of $67.03. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. Fortune Brands Innovations has a 1 year low of $47.21 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period last year, the business posted $0.83 earnings per share. On average, equities analysts anticipate that Fortune Brands Innovations will post 4.24 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group reduced their target price on Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Robert W. Baird decreased their price objective on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target on the stock. Finally, Royal Bank of Canada lowered their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.17.

Insiders Place Their Bets

In other news, EVP Kristin Papesh acquired 483 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

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.