Rafferty Asset Management LLC Increases Stake in Installed Building Products, Inc. (NYSE:IBP)

Rafferty Asset Management LLC grew its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 51.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,703 shares of the construction company's stock after acquiring an additional 5,310 shares during the period. Rafferty Asset Management LLC owned 0.06% of Installed Building Products worth $2,752,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Installed Building Products by 69.8% during the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company's stock worth $85,124,000 after purchasing an additional 199,657 shares in the last quarter. Norges Bank purchased a new stake in Installed Building Products in the 4th quarter valued at about $28,509,000. T. Rowe Price Investment Management Inc. increased its stake in shares of Installed Building Products by 87.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company's stock worth $59,249,000 after purchasing an additional 158,173 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Installed Building Products during the 4th quarter worth approximately $23,776,000. Finally, FIL Ltd increased its stake in shares of Installed Building Products by 14.0% during the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company's stock worth $182,091,000 after purchasing an additional 127,215 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

NYSE:IBP traded up $1.35 during midday trading on Friday, hitting $156.73. The company had a trading volume of 380,762 shares, compared to its average volume of 338,391. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $281.04. The stock's fifty day moving average price is $166.59 and its 200-day moving average price is $182.13. The company has a market capitalization of $4.33 billion, a PE ratio of 17.41 and a beta of 1.85. 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 (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The company had revenue of $684.80 million during the quarter, compared to analysts' expectations of $681.34 million. During the same quarter last year, the firm posted $2.47 earnings per share. The firm's revenue was down 1.2% on a year-over-year basis. As a group, research analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, June 13th. Installed Building Products's dividend payout ratio is presently 16.88%.

Analyst Ratings Changes

IBP has been the subject of a number of recent research reports. Benchmark reduced their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Installed Building Products in a report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price target for the company. DA Davidson cut their price target on shares of Installed Building Products from $260.00 to $225.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Loop Capital cut their price target on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $212.45.

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.