Fortune Brands Innovations, Inc. (NYSE:FBIN – Get Free Report) announced a quarterly dividend on Tuesday, September 29th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.26 per share on Wednesday, December 9th. This represents a $1.04 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, November 20th.
Fortune Brands Innovations has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Fortune Brands Innovations has a dividend payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Fortune Brands Innovations to earn $3.39 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 30.7%.
Fortune Brands Innovations Stock Performance
NYSE FBIN opened at $38.42 on Wednesday. The firm’s 50 day simple moving average is $45.08 and its 200 day simple moving average is $43.03. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 1.70 and a beta of 1.30. Fortune Brands Innovations has a 1 year low of $32.34 and a 1 year high of $64.84. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 1.11.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on FBIN. The Goldman Sachs Group reiterated a “buy” rating and issued a $68.00 price target on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. Evercore set a $45.00 price objective on shares of Fortune Brands Innovations in a research note on Friday. UBS Group boosted their target price on shares of Fortune Brands Innovations from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on Fortune Brands Innovations from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.64.
View Our Latest Stock Report on Fortune Brands Innovations
Fortune Brands Innovations Company Profile
Fortune Brands Innovations, Inc (NYSE: FBIN) is a manufacturer and marketer of products used in residential, commercial and remodeling applications. The company focuses on improving the safety, functionality, design and outdoor living experience of buildings through a portfolio of branded products.
Its offerings include plumbing fixtures and related water products, including faucets, showers and other kitchen and bathroom solutions; entry-door systems and fiberglass and steel doors; decking and outdoor-living products; and security products such as locks, safes and connected access solutions.
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