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

Installed Building Products, Inc. (NYSE:IBP) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Saturday, June 15th will be given a dividend of 0.35 per share by the construction company on Sunday, June 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, June 14th.

Installed Building Products has a dividend payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Installed Building Products to earn $12.49 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 11.2%.

Installed Building Products Stock Performance

NYSE:IBP traded down $4.40 during mid-day trading on Friday, hitting $232.38. 111,536 shares of the stock were exchanged, compared to its average volume of 264,177. Installed Building Products has a fifty-two week low of $103.50 and a fifty-two week high of $263.76. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.62 and a current ratio of 3.09. The firm’s 50-day simple moving average is $242.78 and its 200 day simple moving average is $196.43. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 27.13 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.42 by $0.03. The company had revenue of $720.70 million during the quarter, compared to analysts’ expectations of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.34 EPS. As a group, equities analysts anticipate that Installed Building Products will post 11.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IBP shares. JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and increased their price target for the company from $199.00 to $242.00 in a research report on Wednesday, February 28th. Evercore ISI upped their price target on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. DA Davidson assumed coverage on shares of Installed Building Products in a research note on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price target for the company. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Installed Building Products presently has an average rating of “Moderate Buy” and an average price target of $208.80.

Insider Buying and Selling

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the sale, the chief accounting officer now directly owns 7,176 shares in the company, valued at $1,675,596. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now directly owns 7,176 shares of the company’s stock, valued at $1,675,596. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Thomas Miller sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the completion of the sale, the chief financial officer now directly owns 38,320 shares in the company, valued at $9,324,788.80. The disclosure for this sale can be found here. Insiders sold 6,619 shares of company stock worth $1,606,732 in the last three months. 16.50% of the stock is owned by insiders.

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.