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

Installed Building Products, Inc. (NYSE:IBP) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Sunday, December 15th will be given 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 is Friday, December 13th.

Installed Building Products has a payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. 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 Performance

NYSE IBP traded down $4.23 during trading on Friday, reaching $213.04. The company’s stock had a trading volume of 26,514 shares, compared to its average volume of 291,270. Installed Building Products has a 12 month low of $121.83 and a 12 month high of $281.04. The firm has a 50 day moving average price of $231.34 and a 200 day moving average price of $225.41. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 24.22 and a beta of 1.95. 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 posted its quarterly earnings data on Thursday, November 7th. The construction company reported $2.73 EPS for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.13). The company had revenue of $760.60 million for the quarter, compared to the consensus estimate of $757.91 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. As a group, equities analysts anticipate that Installed Building Products will post 11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $203.00 to $197.00 in a research note on Friday. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. 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 research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective 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. Finally, StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.