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

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) declared a quarterly dividend on Thursday, July 17th, RTT News reports. Investors of record on Friday, August 22nd will be given a dividend of 0.25 per share on Wednesday, September 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%.

Fortune Brands Innovations has a dividend payout ratio of 23.3% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of Fortune Brands Innovations stock traded up $1.32 during trading hours on Thursday, reaching $53.94. The stock had a trading volume of 1,396,714 shares, compared to its average volume of 1,627,308. The stock's 50 day moving average is $52.23 and its 200 day moving average is $59.13. The firm has a market capitalization of $6.49 billion, a PE ratio of 15.82, a PEG ratio of 2.90 and a beta of 1.36. Fortune Brands Innovations has a twelve month low of $47.21 and a twelve month high of $90.54. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting analysts' consensus estimates of $0.66. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. The company's revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Equities analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FBIN shares. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 price objective for the company. Robert W. Baird decreased their price objective on shares of 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 shares of Fortune Brands Innovations in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada cut their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $77.27.

Institutional Trading of Fortune Brands Innovations

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of Fortune Brands Innovations by 0.8% during the 1st quarter. Royal Bank of Canada now owns 41,713 shares of the company's stock worth $2,539,000 after buying an additional 324 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Fortune Brands Innovations by 83.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 852 shares of the company's stock valued at $52,000 after buying an additional 388 shares during the period. Finally, Empowered Funds LLC boosted its position in Fortune Brands Innovations by 20.5% in the 1st quarter. Empowered Funds LLC now owns 10,335 shares of the company's stock valued at $629,000 after buying an additional 1,761 shares during the period. Institutional investors and hedge funds own 87.60% of the company's stock.

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.