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

Fortune Brands Innovations, Inc. (NYSE:FBIN) declared a quarterly dividend on Wednesday, May 14th, Wall Street Journal reports. Investors of record on Tuesday, May 27th will be paid 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 1.99%. 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 every year for the last 2 years. Fortune Brands Innovations has a payout ratio of 23.3% indicating that its dividend is sufficiently covered by earnings. 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

NYSE:FBIN opened at $50.25 on Friday. Fortune Brands Innovations has a one year low of $47.21 and a one year high of $90.54. The company has a market cap of $6.04 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.00 and a beta of 1.49. The firm’s fifty day moving average price is $54.73 and its two-hundred day moving average price is $65.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company earned $0.83 earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. Equities analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Kristin Papesh acquired 483 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at $472,177.83. This trade represents a 6.77% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors and hedge funds have recently bought and sold shares of FBIN. Royal Bank of Canada lifted its holdings in shares of Fortune Brands Innovations by 0.8% in the first quarter. Royal Bank of Canada now owns 41,713 shares of the company’s stock worth $2,539,000 after acquiring an additional 324 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Fortune Brands Innovations by 20.5% in the first quarter. Empowered Funds LLC now owns 10,335 shares of the company’s stock worth $629,000 after acquiring an additional 1,761 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Fortune Brands Innovations by 83.6% in 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 last quarter. Institutional investors own 87.60% of the company’s stock.

Wall Street Analyst Weigh In

FBIN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price objective on the stock. Barclays decreased their price objective on shares of Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. UBS Group decreased their price objective on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Wall Street Zen cut shares of Fortune Brands Innovations from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Royal Bank of Canada reduced 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 report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and an average target price of $77.17.

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.