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Installed Building Products, Inc. (NYSE:IBP) Declares Dividend Increase - $0.37 Per Share

Installed Building Products logo with Construction background
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Installed Building Products, Inc. (NYSE:IBP - Get Free Report) 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 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Installed Building Products's previous quarterly dividend of $0.35.

Installed Building Products has raised its dividend by an average of 5.3% per year over the last three years. Installed Building Products has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. 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 $1.40 annual dividend with an expected future payout ratio of 12.7%.

Installed Building Products Stock Performance

IBP stock traded up $3.96 during midday trading on Tuesday, hitting $166.18. 543,691 shares of the stock traded hands, compared to its average volume of 379,741. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The firm has a market cap of $4.68 billion, a P/E ratio of 18.46 and a beta of 1.99. Installed Building Products has a 1-year low of $159.76 and a 1-year high of $281.04. The stock's fifty day simple moving average is $182.67 and its 200-day simple moving average is $207.99.

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Analysts Set New Price Targets

IBP has been the topic of several recent analyst reports. DA Davidson decreased their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a "buy" rating on the stock in a report on Friday. Royal Bank of Canada downgraded shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and decreased their price objective for the company from $203.00 to $197.00 in a report on Friday, November 8th. The Goldman Sachs Group decreased their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Benchmark decreased their price target on shares of Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Evercore ISI downgraded shares of Installed Building Products from an "outperform" rating to an "underperform" rating and decreased their price target for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $219.40.

View Our Latest Research Report on Installed Building Products

Installed Building Products Company Profile

(Get Free Report)

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.

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Dividend History for Installed Building Products (NYSE:IBP)

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