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

Installed Building Products, Inc. (NYSE:IBP) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Shareholders 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 yield of 0.60%. The ex-dividend date is Friday, June 14th.

Installed Building Products has a payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE IBP traded down $4.77 during trading hours on Friday, reaching $232.01. 81,311 shares of the stock traded hands, compared to its average volume of 263,875. The stock has a 50 day simple moving average of $242.78 and a two-hundred day simple moving average of $196.43. Installed Building Products has a 1 year low of $103.50 and a 1 year high of $263.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 27.13 and a beta of 1.91.

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

Insider Activity

In related news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $243.34, for a total value of $1,216,700.00. Following the sale, the chief financial officer now owns 38,320 shares in the company, valued at approximately $9,324,788.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares in the company, 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 90 days. Company insiders own 16.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IBP shares. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. DA Davidson started coverage on Installed Building Products in a research note on Tuesday, March 5th. They set a “buy” rating and a $275.00 price objective on the stock. Truist Financial raised their price objective on Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of Installed Building Products in a research note on Thursday, February 1st. Finally, Royal Bank of Canada raised their target price on Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Friday. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.80.

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.