Installed Building Products, Inc. (NYSE:IBP) Announces Quarterly Dividend of $0.32

Installed Building Products, Inc. (NYSE:IBPGet Rating) announced a quarterly dividend on Thursday, May 5th, Zacks reports. Shareholders of record on Wednesday, June 15th will be paid a dividend of 0.315 per share by the construction company on Thursday, June 30th. This represents a $1.26 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, June 14th.

Installed Building Products has a dividend payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Installed Building Products to earn $7.55 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 16.7%.

Shares of Installed Building Products stock opened at $86.77 on Friday. The company has a market cap of $2.54 billion, a PE ratio of 21.64 and a beta of 1.78. The business has a 50 day moving average of $89.22 and a 200 day moving average of $111.69. Installed Building Products has a 52 week low of $75.95 and a 52 week high of $141.43. The company has a quick ratio of 2.33, a current ratio of 2.79 and a debt-to-equity ratio of 2.00.

Installed Building Products (NYSE:IBPGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The construction company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.42. Installed Building Products had a return on equity of 42.34% and a net margin of 6.03%. The company had revenue of $587.50 million for the quarter, compared to analysts’ expectations of $541.59 million. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis. On average, research analysts anticipate that Installed Building Products will post 6.59 earnings per share for the current year.

In other Installed Building Products news, Director Lawrence A. Hilsheimer bought 513 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The shares were purchased at an average cost of $97.30 per share, for a total transaction of $49,914.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. BlackRock Inc. raised its holdings in shares of Installed Building Products by 2.4% during the fourth quarter. BlackRock Inc. now owns 3,839,794 shares of the construction company’s stock valued at $536,497,000 after acquiring an additional 90,724 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Installed Building Products by 16.5% during the fourth quarter. Wells Fargo & Company MN now owns 39,180 shares of the construction company’s stock valued at $5,473,000 after acquiring an additional 5,561 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Installed Building Products by 33.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 484,740 shares of the construction company’s stock valued at $67,728,000 after acquiring an additional 121,055 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Installed Building Products by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 33,007 shares of the construction company’s stock valued at $4,612,000 after acquiring an additional 683 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Installed Building Products by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 19,099 shares of the construction company’s stock valued at $2,669,000 after acquiring an additional 133 shares during the last quarter. 98.94% of the stock is owned by institutional investors.

IBP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Installed Building Products from $101.00 to $88.00 and set a “neutral” rating on the stock in a report on Wednesday, April 20th. Jefferies Financial Group downgraded Installed Building Products from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $117.00 to $105.00 in a research note on Monday, March 21st. StockNews.com initiated coverage on Installed Building Products in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. BTIG Research decreased their price objective on Installed Building Products from $124.00 to $108.00 in a research note on Friday. Finally, The Goldman Sachs Group decreased their price objective on Installed Building Products from $114.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Installed Building Products has an average rating of “Hold” and a consensus price target of $115.50.

About Installed Building Products (Get Rating)

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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Dividend History for Installed Building Products (NYSE:IBP)

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