Installed Building Products (NYSE:IBP) Sets New 12-Month Low - Here's Why

Shares of Installed Building Products, Inc. (NYSE:IBP - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $153.40 and last traded at $156.41, with a volume of 431050 shares traded. The stock had previously closed at $163.96.

Analyst Ratings Changes

IBP has been the topic of a number of research analyst reports. 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 note on Tuesday, March 4th. DA Davidson decreased their price target on Installed Building Products from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. StockNews.com cut Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Benchmark cut their price objective 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a research report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 target price for the company. 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 a consensus rating of "Hold" and an average price target of $216.09.

Installed Building Products Trading Down 2.3 %

The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $4.27 billion, a PE ratio of 17.18 and a beta of 1.84. The business's 50-day moving average is $170.63 and its two-hundred day moving average is $194.41.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. This is a positive change from Installed Building Products's previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.96%. Installed Building Products's payout ratio is 16.26%.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently modified their holdings of the business. HighTower Advisors LLC acquired a new position in Installed Building Products in the third quarter valued at $260,000. Public Employees Retirement System of Ohio increased its position in Installed Building Products by 366.7% in the 3rd 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. Barclays PLC raised its stake in Installed Building Products by 61.9% during the 3rd quarter. Barclays PLC now owns 97,711 shares of the construction company's stock valued at $24,063,000 after acquiring an additional 37,347 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Installed Building Products during the 3rd quarter worth approximately $353,000. Finally, Franklin Resources Inc. grew its stake in shares of Installed Building Products by 13.0% in the 3rd quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company's stock valued at $48,368,000 after purchasing an additional 22,367 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.