Fortune Brands Innovations, Inc. (NYSE:FBIN – Get Free Report) declared a quarterly dividend on Tuesday, September 24th, Wall Street Journal reports. Investors of record on Friday, November 22nd will be given 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 1.10%. The ex-dividend date of this dividend is Friday, November 22nd.
Fortune Brands Innovations has decreased its dividend payment by an average of 1.4% annually over the last three years. Fortune Brands Innovations has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities 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
Shares of FBIN stock traded up $0.24 on Tuesday, reaching $87.27. The company’s stock had a trading volume of 463,797 shares, compared to its average volume of 1,213,333. The stock’s fifty day simple moving average is $77.82 and its 200-day simple moving average is $74.68. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $88.22. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51.
Wall Street Analyst Weigh In
A number of equities analysts have commented on FBIN shares. JPMorgan Chase & Co. boosted their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group upped their price objective on Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial upped their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Loop Capital lowered their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Finally, Royal Bank of Canada upped their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.20.
Get Our Latest Report on Fortune Brands Innovations
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.
Read More
- Five stocks we like better than Fortune Brands Innovations
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- What is the FTSE 100 index?
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Receive News & Ratings for Fortune Brands Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Innovations and related companies with MarketBeat.com's FREE daily email newsletter.