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

Installed Building Products, Inc. (NYSE:IBP) declared a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Sunday, September 15th will be paid a dividend of 0.35 per share by the construction company on Monday, September 30th. This represents a $1.40 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, September 13th.

Installed Building Products has a dividend payout ratio of 11.5% indicating that its dividend is sufficiently covered by earnings. 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 Down 0.5 %

NYSE IBP opened at $205.75 on Thursday. The stock’s 50 day moving average is $224.28 and its two-hundred day moving average is $227.68. Installed Building Products has a 1-year low of $106.01 and a 1-year high of $281.04. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 23.27 and a beta of 1.93. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.77 by $0.13. The company had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. Equities analysts forecast that Installed Building Products will post 11.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on IBP. Stephens reissued an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. Evercore ISI increased their price objective on Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Finally, Truist Financial lifted their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and a consensus price target of $255.20.

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.