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

Key Points

• Fortune Brands Innovations, Inc. has declared a quarterly dividend of $0.25 per share, payable on December 10th to shareholders of record as of November 21st, representing a yield of 1.9%.
• The company reported earnings of $1.00 per share for the last quarter, exceeding analysts' expectations of $0.98, although its revenue declined by 3.0% year-over-year.
• Insider transactions revealed that CEO Nicholas I. Fink sold 1,522 shares of the company’s stock, decreasing his ownership by 1.54%, while institutional investors currently hold 87.60% of the stock.

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) declared a quarterly dividend on Monday, September 29th, RTT News reports. Shareholders of record on Friday, November 21st will be paid a dividend of 0.25 per share on Wednesday, December 10th. This represents a c) dividend on an annualized basis and a yield of 1.9%.

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 Stock Down 0.3%

NYSE:FBIN traded down $0.17 during trading hours on Monday, reaching $53.10. 1,174,334 shares of the company traded hands, compared to its average volume of 1,530,366. The business's 50-day moving average price is $57.34 and its two-hundred day moving average price is $54.95. The stock has a market capitalization of $6.37 billion, a P/E ratio of 16.70, a P/E/G ratio of 3.66 and a beta of 1.32. Fortune Brands Innovations has a 1 year low of $47.21 and a 1 year high of $90.54. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Analysts predict that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $58.72, for a total transaction of $89,371.84. Following the completion of the sale, the chief executive officer owned 97,139 shares of the company's stock, valued at approximately $5,704,002.08. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Fortune Brands Innovations

Large investors have recently made changes to their positions in the business. Townsquare Capital LLC lifted its position in shares of Fortune Brands Innovations by 3.3% in the first quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock worth $380,000 after buying an additional 197 shares in the last quarter. National Pension Service lifted its position in shares of Fortune Brands Innovations by 74.5% in the first quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after buying an additional 199 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Fortune Brands Innovations by 20.8% in the second quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company's stock worth $63,000 after buying an additional 212 shares in the last quarter. Baker Ellis Asset Management LLC lifted its position in shares of Fortune Brands Innovations by 0.4% in the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock worth $3,750,000 after buying an additional 219 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of Fortune Brands Innovations by 6.2% in the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company's stock worth $257,000 after buying an additional 247 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.

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