Installed Building Products, Inc. Plans Quarterly Dividend of $0.35 (NYSE:IBP)

Installed Building Products, Inc. (NYSE:IBP) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Sunday, September 15th will be given a dividend of 0.35 per share by the construction company on Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, September 13th.

Installed Building Products has a payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Installed Building Products to earn $11.54 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 12.1%.

Installed Building Products Trading Down 0.5 %

Installed Building Products stock opened at $205.75 on Thursday. Installed Building Products has a 1 year low of $106.01 and a 1 year high of $281.04. The firm’s 50 day moving average price is $224.28 and its two-hundred day moving average price is $227.68. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 23.27 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. On average, research analysts predict that Installed Building Products will post 11.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on IBP shares. The Goldman Sachs Group boosted their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Truist Financial boosted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their price target on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $255.20.

About Installed Building Products

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.