Installed Building Products, Inc. (IBP) to Issue Quarterly Dividend of $0.35 on September 30th

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 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, September 13th.

Installed Building Products has a dividend payout ratio of 11.5% indicating that 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 Stock Up 1.3 %

Shares of NYSE:IBP opened at $207.12 on Wednesday. Installed Building Products has a 1 year low of $106.01 and a 1 year high of $281.04. The business has a fifty day moving average price of $224.12 and a two-hundred day moving average price of $227.87. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The company has a market capitalization of $5.85 billion, a PE ratio of 23.43 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.13. The firm 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%. Analysts forecast that Installed Building Products will post 11.14 earnings per share for the current year.

Analysts Set New Price Targets

IBP has been the subject of a number of research reports. Benchmark upped their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Jefferies Financial Group increased their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group boosted their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Finally, StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $255.20.

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.