Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in Installed Building Products, Inc. (NYSE:IBP) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 200,866 shares of the construction company’s stock after acquiring an additional 7,100 shares during the period. Franklin Resources Inc. owned approximately 0.71% of Installed Building Products worth $35,202,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Installed Building Products by 121.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after purchasing an additional 8,815 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Installed Building Products by 8.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company’s stock valued at $923,000 after buying an additional 405 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after acquiring an additional 23,179 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Installed Building Products by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company’s stock worth $22,234,000 after acquiring an additional 4,467 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of 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 acquiring an additional 272 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

IBP opened at $173.19 on Friday. The stock’s 50-day moving average price is $177.57 and its 200 day moving average price is $201.05. Installed Building Products, Inc. has a 12-month low of $157.93 and a 12-month high of $281.04. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 19.24 and a beta of 1.84. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products Increases Dividend

The firm also recently declared 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. This represents a $1.48 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, March 14th. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio is currently 16.26%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IBP. 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. Benchmark reduced their price target on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $238.00 to $206.00 in a report on Monday, December 16th. DA Davidson cut their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $216.09.

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.