Franklin Resources Inc. lifted its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,766 shares of the construction company's stock after purchasing an additional 22,367 shares during the quarter. Franklin Resources Inc. owned 0.69% of Installed Building Products worth $48,368,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. CWM LLC lifted its stake in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company's stock valued at $52,000 after buying an additional 62 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Installed Building Products by 80.6% during the second quarter. SG Americas Securities LLC now owns 3,020 shares of the construction company's stock worth $621,000 after buying an additional 1,348 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Installed Building Products by 14.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,618 shares of the construction company's stock valued at $333,000 after buying an additional 209 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Installed Building Products by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the construction company's stock worth $2,427,000 after acquiring an additional 200 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Installed Building Products by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company's stock worth $46,572,000 after acquiring an additional 4,943 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on IBP shares. Jefferies Financial Group lifted their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. StockNews.com upgraded Installed Building Products from a "hold" rating to a "buy" rating in a research note on Wednesday. Evercore ISI cut shares of Installed Building Products from an "outperform" rating to an "underperform" rating and decreased their target price for the company from $238.00 to $206.00 in a research note on Monday. JPMorgan Chase & Co. lifted their price target on Installed Building Products from $236.00 to $241.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Finally, Seaport Res Ptn cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $247.10.
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Installed Building Products Trading Down 0.4 %
Shares of NYSE IBP traded down $0.72 during midday trading on Wednesday, reaching $191.38. The stock had a trading volume of 35,651 shares, compared to its average volume of 290,140. The company's 50 day moving average price is $221.99 and its 200 day moving average price is $222.73. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a twelve month low of $168.08 and a twelve month high of $281.04. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 21.33 and a beta of 1.93.
Installed Building Products Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.73%. Installed Building Products's payout ratio is currently 15.56%.
Installed Building Products Company Profile
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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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