Vanguard Group Inc. Acquires 16,597 Shares of Installed Building Products, Inc. (NYSE:IBP)

Vanguard Group Inc. lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,636,803 shares of the construction company's stock after acquiring an additional 16,597 shares during the quarter. Vanguard Group Inc. owned 9.37% of Installed Building Products worth $462,100,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IBP. State Street Corp boosted its position in shares of Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company's stock valued at $307,472,000 after purchasing an additional 96,780 shares during the period. Geode Capital Management LLC lifted its stake in Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company's stock valued at $153,452,000 after buying an additional 23,179 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Installed Building Products by 25.3% in 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 buying an additional 83,205 shares during the period. Van Berkom & Associates Inc. increased its position in shares of 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 acquiring an additional 25,971 shares in the last quarter. Finally, Swedbank AB raised its stake in Installed Building Products by 26.4% during the 4th quarter. Swedbank AB now owns 330,000 shares of the construction company's stock valued at $57,832,000 after purchasing an additional 69,000 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IBP. DA Davidson dropped their target price on Installed Building Products from $260.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Benchmark cut their target price on Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group reduced their price target on 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. StockNews.com lowered Installed Building Products from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Evercore ISI lowered shares of Installed Building Products from an "outperform" rating to an "underperform" rating and dropped their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $216.09.

Installed Building Products Stock Performance

IBP stock traded up $9.40 during trading on Friday, reaching $173.19. 784,236 shares of the stock were exchanged, compared to its average volume of 326,252. Installed Building Products, Inc. has a twelve month low of $157.93 and a twelve month high of $281.04. 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 company has a market capitalization of $4.81 billion, a P/E ratio of 19.24 and a beta of 1.84. The stock has a 50 day simple moving average of $177.57 and a 200-day simple moving average of $200.80.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.37 per share. 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 dividend on an annualized basis and a dividend yield of 0.85%. Installed Building Products's payout ratio is currently 16.26%.

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.