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

Installed Building Products, Inc. (NYSE:IBP) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders 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 of this dividend is Friday, June 14th.

Installed Building Products has a payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 2.0 %

Shares of NYSE:IBP traded down $4.77 during trading on Friday, reaching $232.01. The company’s stock had a trading volume of 81,311 shares, compared to its average volume of 263,875. The firm’s 50 day simple moving average is $242.78 and its two-hundred day simple moving average is $196.43. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26. Installed Building Products has a 12 month low of $103.50 and a 12 month high of $263.76. The stock has a market capitalization of $6.60 billion, a PE ratio of 27.13 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. The firm had revenue of $720.70 million during the quarter, compared to analysts’ expectations of $688.59 million. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 EPS. On average, research analysts predict that Installed Building Products will post 11.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IBP. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. DA Davidson assumed coverage on Installed Building Products in a research note on Tuesday, March 5th. They issued a “buy” rating and a $275.00 target price on the stock. Truist Financial boosted their target price on shares of Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. downgraded shares of Installed Building Products from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $199.00 to $242.00 in a research note on Wednesday, February 28th. Finally, Evercore ISI boosted their price objective on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $208.80.

Insider Buying and Selling at Installed Building Products

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

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.