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

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 of this dividend 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% per year over the last three years. Installed Building Products has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.8 %

Shares of IBP stock traded up $1.40 during trading hours 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 stock has a market capitalization of $4.83 billion, a PE ratio of 19.05 and a beta of 1.99. Installed Building Products has a fifty-two week low of $162.20 and a fifty-two week high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company’s fifty day moving average is $183.34 and its 200 day moving average is $208.92.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBP. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $238.00 to $206.00 in a report on Monday, December 16th. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. DA Davidson reduced 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. JPMorgan Chase & Co. increased their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.