Franklin Resources Inc. increased its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,866 shares of the construction company's stock after purchasing an additional 7,100 shares during the period. Franklin Resources Inc. owned 0.71% of Installed Building Products worth $35,202,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Installed Building Products by 0.8% in the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock valued at $1,221,000 after buying an additional 56 shares during the period. Dana Investment Advisors Inc. raised its stake in Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock worth $1,363,000 after purchasing an additional 71 shares during the period. Blue Trust Inc. boosted its holdings in shares of Installed Building Products by 7.9% in the 4th quarter. Blue Trust Inc. now owns 1,257 shares of the construction company's stock valued at $220,000 after purchasing an additional 92 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Installed Building Products by 2.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company's stock valued at $617,000 after buying an additional 93 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of Installed Building Products by 8.9% in the 4th quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company's stock worth $274,000 after buying an additional 128 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.
Installed Building Products Stock Performance
Installed Building Products stock traded down $6.21 during mid-day trading on Thursday, hitting $167.43. 72,833 shares of the company's stock traded hands, compared to its average volume of 330,125. The company has a market cap of $4.65 billion, a PE ratio of 18.64 and a beta of 1.84. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a one year low of $153.85 and a one year high of $281.04. The firm has a 50 day moving average price of $174.01 and a 200 day moving average price of $198.69.
Installed Building Products Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 0.88%. Installed Building Products's dividend payout ratio (DPR) is 16.26%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on IBP shares. Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a report on Tuesday, April 1st. They set a "hold" rating and a $183.00 target price for the company. StockNews.com lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. DA Davidson cut 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, February 28th. Evercore ISI downgraded Installed Building Products from an "outperform" rating to an "underperform" rating and dropped their price objective for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Finally, Loop Capital cut their price target on shares of Installed Building Products from $230.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $216.09.
Read Our Latest Stock Analysis on Installed Building Products
About Installed Building Products
(
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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