Fortune Brands Innovations, Inc. (FBIN) To Go Ex-Dividend on August 21st

Fortune Brands Innovations, Inc. (NYSE:FBIN) announced a quarterly dividend on Monday, July 20th. Stockholders of record on Friday, August 21st will be given a dividend of 0.26 per share on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, August 21st.

Fortune Brands Innovations has raised its dividend payment by an average of 0.0%annually 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 24.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fortune Brands Innovations to earn $3.60 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 28.9%.

Fortune Brands Innovations Trading Down 1.2%

NYSE:FBIN opened at $49.59 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. The business’s 50-day simple moving average is $43.68 and its 200-day simple moving average is $46.67. Fortune Brands Innovations has a fifty-two week low of $32.34 and a fifty-two week high of $64.84. The stock has a market capitalization of $5.92 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 3.24 and a beta of 1.30.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, May 7th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. Sell-side analysts expect that Fortune Brands Innovations will post 3.14 earnings per share for the current fiscal year.

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 320,067 shares of Fortune Brands Innovations stock in a transaction that occurred on Wednesday, June 10th. The stock was acquired at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the completion of the acquisition, the director owned 3,940,234 shares of the company’s stock, valued at approximately $159,973,500.40. This trade represents a 8.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have bought 786,367 shares of company stock valued at $28,653,958. Company insiders own 3.32% of the company’s stock.

Institutional Trading of Fortune Brands Innovations

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Fortune Brands Innovations by 17.8% in the second quarter. GAMMA Investing LLC now owns 2,633 shares of the company’s stock valued at $145,000 after buying an additional 397 shares during the last quarter. Empowered Funds LLC bought a new stake in Fortune Brands Innovations in the 1st quarter valued at $551,000. Parallel Advisors LLC raised its stake in Fortune Brands Innovations by 31.8% in the 1st quarter. Parallel Advisors LLC now owns 1,247 shares of the company’s stock valued at $49,000 after acquiring an additional 301 shares during the period. NewEdge Advisors LLC lifted its holdings in Fortune Brands Innovations by 107.1% during the 1st quarter. NewEdge Advisors LLC now owns 16,348 shares of the company’s stock valued at $637,000 after purchasing an additional 8,454 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC acquired a new stake in Fortune Brands Innovations during the 1st quarter valued at $201,000. Institutional investors own 87.60% of the company’s stock.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.