Installed Building Products, Inc. (NYSE:IBP) Declares Quarterly Dividend of $0.37

Installed Building Products, Inc. (NYSE:IBP) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.37 per share by the construction company on Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35.

Installed Building Products has raised its dividend payment by an average of 5.3% annually over the last three years. Installed Building Products has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Installed Building Products to earn $11.02 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 12.7%.

Installed Building Products Price Performance

Installed Building Products stock traded up $1.40 during midday trading on Friday, reaching $171.46. 1,023,294 shares of the stock were exchanged, compared to its average volume of 372,969. The company’s fifty day moving average is $183.34 and its 200-day moving average is $208.92. The firm has a market cap of $4.83 billion, a PE ratio of 19.05 and a beta of 1.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products has a 52 week low of $162.20 and a 52 week high of $281.04.

Analysts Set New Price Targets

IBP has been the subject of several recent analyst reports. DA Davidson decreased their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Finally, Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Installed Building Products has an average rating of “Hold” and an average target price of $236.90.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.