Raymond James Financial Inc. Invests $23.78 Million in Installed Building Products, Inc. (NYSE:IBP)

Raymond James Financial Inc. bought a new position in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 135,667 shares of the construction company's stock, valued at approximately $23,776,000. Raymond James Financial Inc. owned approximately 0.48% of Installed Building Products as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in IBP. State Street Corp raised its holdings in Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company's stock worth $307,472,000 after purchasing an additional 96,780 shares in the last quarter. FMR LLC grew its position in shares of Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company's stock worth $237,786,000 after buying an additional 367,628 shares during the period. Geode Capital Management LLC lifted its position in Installed Building Products by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company's stock valued at $153,452,000 after acquiring an additional 23,179 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Installed Building Products by 25.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company's stock worth $72,268,000 after acquiring an additional 83,205 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its holdings in Installed Building Products by 7.5% in the fourth quarter. Van Berkom & Associates Inc. now owns 373,458 shares of the construction company's stock worth $65,449,000 after purchasing an additional 25,971 shares during the period. Hedge funds and other institutional investors own 99.61% of the company's stock.

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Analysts Set New Price Targets

IBP has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Loop Capital dropped their target price on Installed Building Products from $230.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Truist Financial lowered their price target on Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a research report on Monday, March 3rd. StockNews.com cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Evercore ISI cut shares of Installed Building Products from an "outperform" rating to an "underperform" rating and decreased their target price for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Installed Building Products has an average rating of "Hold" and a consensus price target of $219.40.

Installed Building Products Stock Performance

NYSE:IBP traded up $2.44 during trading hours on Wednesday, reaching $174.00. The company had a trading volume of 225,439 shares, compared to its average volume of 377,624. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 19.33 and a beta of 2.05. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm's 50 day moving average price is $182.24 and its 200-day moving average price is $204.65. Installed Building Products, Inc. has a 52 week low of $159.76 and a 52 week high of $281.04.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, March 14th. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. Installed Building Products's dividend payout ratio is 16.26%.

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.