Installed Building Products, Inc. (NYSE:IBP) to Issue Dividend Increase – $0.37 Per Share

Installed Building Products, Inc. (NYSE:IBP) announced a quarterly dividend on Thursday, February 27th, 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 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, March 14th. This is a boost 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. Equities research 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

Shares of NYSE IBP traded up $1.40 during midday trading on Friday, hitting $171.46. The company had a trading volume of 1,023,300 shares, compared to its average volume of 372,972. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. Installed Building Products has a twelve month low of $162.20 and a twelve month high of $281.04. The business has a 50-day simple moving average of $183.34 and a two-hundred day simple moving average of $208.92. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 19.05 and a beta of 1.99.

Wall Street Analyst Weigh In

IBP has been the subject of a number of research reports. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price target for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $238.00 to $206.00 in a report on Monday, December 16th. The Goldman Sachs Group lowered their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Installed Building Products presently has a consensus 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.