Raymond James Financial Inc. Makes New Investment in Installed Building Products, Inc. (NYSE:IBP)

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Curio Wealth LLC acquired a new position in Installed Building Products during the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC increased its holdings in shares of Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock worth $64,000 after buying an additional 272 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Installed Building Products by 819.0% in the 4th quarter. Headlands Technologies LLC now owns 726 shares of the construction company's stock worth $127,000 after buying an additional 647 shares during the period. Principal Securities Inc. raised its position in shares of Installed Building Products by 20.0% in the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company's stock worth $196,000 after buying an additional 186 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Installed Building Products by 366.7% during the third quarter. Public Employees Retirement System of Ohio now owns 854 shares of the construction company's stock valued at $210,000 after acquiring an additional 671 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Price Performance

Shares of IBP stock opened at $158.33 on Friday. The firm has a market cap of $4.37 billion, a P/E ratio of 17.59 and a beta of 1.84. The firm has a fifty day moving average of $170.63 and a two-hundred day moving average of $195.09. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products, Inc. has a 1-year low of $153.40 and a 1-year high of $281.04.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.93%. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. Installed Building Products's dividend payout ratio is presently 16.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IBP shares. Truist Financial cut their price objective on Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a report on Monday, March 3rd. Loop Capital reduced 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 research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They set a "hold" rating and a $183.00 price objective for the company. Benchmark cut their target price on shares of Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their price target on shares of Installed Building Products from $262.00 to $228.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of "Hold" and an average target price of $216.09.

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.

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