Raymond James & Associates Sells 2,969 Shares of Installed Building Products, Inc. (NYSE:IBP)

Raymond James & Associates cut its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,927 shares of the construction company's stock after selling 2,969 shares during the quarter. Raymond James & Associates owned about 0.11% of Installed Building Products worth $6,567,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Installed Building Products in the fourth quarter worth approximately $838,000. Strs Ohio lifted its position in shares of Installed Building Products by 35.7% during the 4th quarter. Strs Ohio now owns 1,900 shares of the construction company's stock valued at $347,000 after acquiring an additional 500 shares during the period. New York State Common Retirement Fund boosted its stake in Installed Building Products by 732.3% during the fourth quarter. New York State Common Retirement Fund now owns 84,386 shares of the construction company's stock worth $15,427,000 after acquiring an additional 74,247 shares in the last quarter. GAMMA Investing LLC bought a new position in Installed Building Products during the fourth quarter worth $76,000. Finally, Yousif Capital Management LLC grew its stake in shares of Installed Building Products by 3.6% in the 4th quarter. Yousif Capital Management LLC now owns 12,150 shares of the construction company's stock valued at $2,221,000 after buying an additional 419 shares during the period. Institutional investors own 99.61% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on IBP shares. StockNews.com downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Friday, August 9th. The Goldman Sachs Group raised their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Benchmark boosted their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, May 14th. Evercore ISI lifted their target price on Installed Building Products from $274.00 to $282.00 and gave the company an "outperform" rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group upped their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a "hold" rating in a research report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $255.20.

Installed Building Products Stock Performance

Installed Building Products stock traded down $3.85 during midday trading on Wednesday, reaching $220.82. The stock had a trading volume of 205,924 shares, compared to its average volume of 300,141. The firm has a market capitalization of $6.28 billion, a PE ratio of 24.98 and a beta of 1.93. Installed Building Products, Inc. has a 12 month low of $106.01 and a 12 month high of $281.04. The company has a quick ratio of 2.67, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The firm's 50-day moving average price is $222.14 and its 200 day moving average price is $227.60.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, research analysts predict that Installed Building Products, Inc. will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.63%. Installed Building Products's payout ratio is 15.84%.

About Installed Building Products

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.