Fortune Brands Innovations, Inc. (FBIN) to Issue Quarterly Dividend of $0.25 on December 10th

Fortune Brands Innovations, Inc. (NYSE:FBIN) declared a quarterly dividend on Monday, September 29th, RTT News reports. Investors of record on Friday, November 21st will be given a dividend of 0.25 per share on Wednesday, December 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, November 21st.

Fortune Brands Innovations has raised its dividend payment by an average of 0.0%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. Equities 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 FBIN stock opened at $45.29 on Wednesday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 4.37 and a beta of 1.32. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20. The firm’s 50 day moving average is $51.89 and its 200-day moving average is $53.51. Fortune Brands Innovations has a 1 year low of $44.87 and a 1 year high of $81.93.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.01). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.18 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Sell-side analysts forecast that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on FBIN shares. Evercore ISI reaffirmed an “outperform” rating on shares of Fortune Brands Innovations in a report on Friday, October 31st. Truist Financial restated a “hold” rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Vertical Research started coverage on Fortune Brands Innovations in a report on Tuesday, October 21st. They issued a “hold” rating and a $52.00 price target on the stock. Loop Capital reissued a “hold” rating and issued a $61.00 price objective (up previously from $53.00) on shares of Fortune Brands Innovations in a research report on Monday, August 4th. Finally, Barclays dropped their target price on Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.40.

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.