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

Installed Building Products, Inc. (NYSE:IBP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders 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 dividend on an annualized basis 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. Equities 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 Stock Down 1.9 %

Shares of Installed Building Products stock traded down $4.23 during trading on Friday, reaching $213.04. 26,514 shares of the company traded hands, compared to its average volume of 291,270. The firm has a market capitalization of $6.01 billion, a PE ratio of 24.22 and a beta of 1.95. Installed Building Products has a 1-year low of $121.83 and a 1-year high of $281.04. The company has a 50 day moving average price of $231.34 and a 200-day moving average price of $225.41. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data 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). The company had revenue of $760.60 million for the quarter, compared to analyst estimates of $757.91 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, equities research analysts expect that Installed Building Products will post 11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Jefferies Financial Group raised 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. Stephens restated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Royal Bank of Canada lowered shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $203.00 to $197.00 in a research note on Friday. Truist Financial boosted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.