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

Installed Building Products, Inc. (NYSE:IBP) declared a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Stockholders 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 dividend yield of 0.60%. The ex-dividend date is Friday, September 13th.

Installed Building Products has a dividend payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Installed Building Products to earn $11.68 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 12.0%.

Installed Building Products Price Performance

IBP stock opened at $231.70 on Friday. The firm has a 50 day moving average of $220.70 and a 200-day moving average of $224.59. The company has a current ratio of 3.08, a quick ratio of 2.67 and a debt-to-equity ratio of 1.24. Installed Building Products has a 12 month low of $106.01 and a 12 month high of $281.04. The firm has a market capitalization of $6.59 billion, a P/E ratio of 26.21 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The company had revenue of $692.90 million during the quarter, compared to analyst estimates of $676.60 million. As a group, sell-side analysts predict that Installed Building Products will post 11.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IBP shares. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday. Loop Capital raised their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Evercore ISI raised their target price on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Royal Bank of Canada raised their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Benchmark raised their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $248.00.

Insiders Place Their Bets

In related news, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction on Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the transaction, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the transaction, the insider now directly owns 13,159 shares of the company’s stock, valued at $3,024,464.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the sale, the director now owns 7,046 shares in the company, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

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.