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

Installed Building Products, Inc. (NYSE:IBP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Sunday, December 15th will be paid a dividend of 0.35 per share by the construction company on Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, December 13th.

Installed Building Products has a payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Installed Building Products to earn $11.34 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 12.3%.

Installed Building Products Trading Down 2.2 %

Shares of IBP traded down $4.77 during trading on Friday, reaching $212.50. 67,588 shares of the company traded hands, compared to its average volume of 291,312. The stock has a 50-day simple moving average of $231.34 and a 200-day simple moving average of $225.41. The stock has a market cap of $6.00 billion, a PE ratio of 24.22 and a beta of 1.95. Installed Building Products has a twelve month low of $121.83 and a twelve month high of $281.04. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, November 7th. The construction company reported $2.73 earnings per share for the quarter, missing the consensus estimate of $2.86 by ($0.13). Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The company had revenue of $760.60 million during the quarter, compared to analyst estimates of $757.91 million. On average, analysts anticipate that Installed Building Products will post 11 earnings per share for the current year.

Analyst Ratings Changes

IBP has been the subject of a number of research reports. Stephens restated an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group increased their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI boosted their target price on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $253.80.

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.