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

Raymond James Financial Inc. bought a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 135,667 shares of the construction company’s stock, valued at approximately $23,776,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBP. Advisors Asset Management Inc. grew its holdings in Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after buying an additional 140 shares in the last quarter. Quarry LP grew its holdings in Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after buying an additional 286 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after buying an additional 272 shares in the last quarter. Centaurus Financial Inc. purchased a new position in shares of Installed Building Products in the 3rd quarter worth approximately $111,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Installed Building Products in the 3rd quarter worth approximately $203,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 1.8 %

Shares of NYSE IBP opened at $171.64 on Friday. 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 business has a fifty day simple moving average of $182.38 and a two-hundred day simple moving average of $205.46. The firm has a market cap of $4.76 billion, a PE ratio of 19.07 and a beta of 2.05. Installed Building Products, Inc. has a twelve month low of $159.77 and a twelve month high of $281.04.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. Installed Building Products’s payout ratio is 16.26%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IBP shares. Loop Capital dropped their target price on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group dropped their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and an average target price of $219.40.

Installed Building Products 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.