Installed Building Products, Inc. (IBP) to Issue Quarterly Dividend of $0.37 on March 31st

Installed Building Products, Inc. (NYSE:IBP) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.37 per share by the construction company on Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, March 14th. This is a 5.7% increase from Installed Building Products’s previous quarterly dividend of $0.35.

Installed Building Products has increased 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 14.2% meaning its dividend is sufficiently covered by earnings. Equities 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 $1.70 annual dividend with an expected future payout ratio of 15.4%.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $171.68 on Wednesday. The business has a 50 day moving average price of $182.61 and a two-hundred day moving average price of $206.48. Installed Building Products has a fifty-two week low of $159.76 and a fifty-two week high of $281.04. The firm has a market cap of $4.77 billion, a PE ratio of 19.08 and a beta of 2.05. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial reduced their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group lowered their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $219.40.

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.