Fortune Brands Innovations, Inc. (NYSE:FBIN) Plans 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. Shareholders of record on Friday, August 22nd will be paid a dividend of 0.25 per share on Wednesday, September 10th. This represents a $1.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, August 22nd.

Fortune Brands Innovations has a payout ratio of 23.3% meaning 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 Stock Performance

NYSE FBIN traded down $0.59 during trading hours on Friday, hitting $53.37. The company's stock had a trading volume of 1,498,189 shares, compared to its average volume of 1,628,662. Fortune Brands Innovations has a 12 month low of $47.21 and a 12 month high of $90.54. The company's 50 day simple moving average is $52.27 and its two-hundred day simple moving average is $58.90. The company has a market cap of $6.42 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 2.94 and a beta of 1.36. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates of $0.66. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.07 billion. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. The firm's revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. As a group, sell-side analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently modified their holdings of FBIN. Geneos Wealth Management Inc. raised its holdings in shares of Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company's stock worth $52,000 after acquiring an additional 388 shares during the period. Empowered Funds LLC increased its stake 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 last quarter. Finally, Royal Bank of Canada increased its stake in Fortune Brands Innovations by 0.8% in the 1st quarter. Royal Bank of Canada now owns 41,713 shares of the company's stock valued at $2,539,000 after buying an additional 324 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company's stock.

Analyst Upgrades and Downgrades

FBIN has been the subject of a number of analyst reports. Barclays upped their price objective on Fortune Brands Innovations from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Robert W. Baird decreased their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. UBS Group decreased their price target on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada decreased their price target on 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $77.27.

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.