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

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.

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.