Fortune Brands Innovations, Inc. (FBIN) To Go Ex-Dividend on November 22nd

Fortune Brands Innovations, Inc. (NYSE:FBIN) announced a quarterly dividend on Tuesday, September 24th, Wall Street Journal reports. Stockholders of record on Friday, November 22nd will be paid a dividend of 0.24 per share on Wednesday, December 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, November 22nd.

Fortune Brands Innovations has decreased its dividend by an average of 1.4% annually over the last three years. Fortune Brands Innovations has a dividend payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fortune Brands Innovations to earn $4.72 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 20.3%.

Fortune Brands Innovations Price Performance

NYSE:FBIN opened at $86.47 on Thursday. The stock’s 50-day simple moving average is $78.32 and its 200 day simple moving average is $74.80. Fortune Brands Innovations has a 52-week low of $54.10 and a 52-week high of $88.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The company has a market cap of $10.82 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.74 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FBIN shares. JPMorgan Chase & Co. raised their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Truist Financial raised their target price on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Barclays raised their target price on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.20.

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.