Fortune Brands Innovations, Inc. (NYSE:FBIN) to Issue Quarterly Dividend of $0.26

Fortune Brands Innovations, Inc. (NYSE:FBIN) announced a quarterly dividend on Monday, July 20th. Investors of record on Friday, August 21st will be given a dividend of 0.26 per share on Wednesday, September 9th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 21st.

Fortune Brands Innovations has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Fortune Brands Innovations has a dividend payout ratio of 24.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Fortune Brands Innovations to earn $3.60 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 28.9%.

Fortune Brands Innovations Trading Down 2.4%

NYSE FBIN opened at $50.24 on Tuesday. The firm has a market capitalization of $5.99 billion, a PE ratio of 22.33, a P/E/G ratio of 3.32 and a beta of 1.30. The stock’s 50 day moving average is $43.43 and its 200 day moving average is $46.67. Fortune Brands Innovations has a twelve month low of $32.34 and a twelve month high of $64.84. The company has a quick ratio of 1.04, a current ratio of 2.13 and a debt-to-equity ratio of 1.15.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. Research analysts forecast that Fortune Brands Innovations will post 3.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on FBIN shares. Robert W. Baird set a $44.00 target price on shares of Fortune Brands Innovations in a research report on Friday, May 8th. Weiss Ratings raised shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada dropped their price objective on shares of Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Bank of America cut their price objective on shares of Fortune Brands Innovations from $52.00 to $42.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Finally, Zacks Research raised shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.38.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.