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

Installed Building Products, Inc. (NYSE:IBP) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.37 per share by the construction company on Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, March 14th. This is a 5.7% increase from Installed Building Products’s previous quarterly dividend of $0.35.

Installed Building Products has increased its dividend payment by an average of 5.3% annually over the last three years. Installed Building Products has a payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities 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 $1.70 annual dividend with an expected future payout ratio of 15.4%.

Installed Building Products Stock Performance

Shares of IBP opened at $171.68 on Wednesday. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 19.08 and a beta of 2.05. Installed Building Products has a 12 month low of $159.76 and a 12 month high of $281.04. The firm has a fifty day simple moving average of $182.61 and a 200 day simple moving average of $206.48. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Wall Street Analysts Forecast Growth

IBP has been the subject of a number of analyst reports. Benchmark decreased their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group cut their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $219.40.

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.