T. Rowe Price Investment Management Inc. boosted its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 87.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,081 shares of the construction company's stock after purchasing an additional 158,173 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.20% of Installed Building Products worth $59,249,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System raised its stake in shares of Installed Building Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock worth $1,221,000 after buying an additional 56 shares during the last quarter. Dana Investment Advisors Inc. raised its position in Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock worth $1,363,000 after acquiring an additional 71 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Installed Building Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock valued at $439,000 after purchasing an additional 79 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Installed Building Products by 7.9% during the 4th quarter. Blue Trust Inc. now owns 1,257 shares of the construction company's stock worth $220,000 after purchasing an additional 92 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in shares of Installed Building Products by 2.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company's stock worth $617,000 after purchasing an additional 93 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.
Installed Building Products Trading Up 0.9 %
Shares of NYSE IBP traded up $1.46 during midday trading on Thursday, hitting $167.29. The stock had a trading volume of 100,906 shares, compared to its average volume of 333,269. 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, Inc. has a 1-year low of $151.27 and a 1-year high of $281.04. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 18.56 and a beta of 1.84. The company has a fifty day moving average price of $169.20 and a 200 day moving average price of $190.99.
Installed Building Products Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.37 dividend. This is an increase 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 dividend yield of 0.88%. Installed Building Products's dividend payout ratio is presently 16.26%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on IBP. Benchmark dropped their price target on Installed Building Products from $250.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a "hold" rating and a $183.00 price objective for the company. DA Davidson decreased their price target on shares of 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. The Goldman Sachs Group cut their price objective 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. Finally, Loop Capital reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus price target of $216.09.
Check Out Our Latest Research Report on IBP
About Installed Building Products
(
Free Report)
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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