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

Installed Building Products, Inc. (NYSE:IBP) declared 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 0.67%. The ex-dividend date of this dividend is Friday, December 13th.

Installed Building Products has a payout ratio of 12.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Installed Building Products to earn $11.03 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 Stock Performance

Shares of IBP opened at $208.87 on Wednesday. The stock has a 50-day moving average price of $226.07 and a 200-day moving average price of $223.07. The company has a market cap of $5.88 billion, a PE ratio of 23.21 and a beta of 1.93. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products has a 12-month low of $158.50 and a 12-month high of $281.04.

Analyst Ratings Changes

A number of equities analysts have recently commented on IBP shares. Evercore ISI increased their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. DA Davidson dropped their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $253.70.

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.