Shares of Installed Building Products, Inc. (NYSE:IBP – Get Free Report) shot up 7.2% during trading on Tuesday . The stock traded as high as $187.90 and last traded at $187.61. 272,750 shares traded hands during trading, an increase of 23% from the average session volume of 222,641 shares. The stock had previously closed at $174.99.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Jefferies Financial Group raised their price objective on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Installed Building Products has an average rating of “Hold” and an average target price of $240.40.
Get Our Latest Stock Report on IBP
Installed Building Products Stock Up 2.4 %
Installed Building Products Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were paid a $0.35 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.70%. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.
Institutional Trading of Installed Building Products
Several hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its holdings in Installed Building Products by 34.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,399 shares of the construction company’s stock worth $245,000 after purchasing an additional 357 shares during the period. Radnor Capital Management LLC increased its stake in shares of Installed Building Products by 61.5% during the fourth quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock worth $1,076,000 after buying an additional 2,338 shares during the period. Park Avenue Securities LLC raised its holdings in Installed Building Products by 14.3% in the fourth quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock valued at $528,000 after acquiring an additional 376 shares in the last quarter. Franklin Resources Inc. raised its holdings in Installed Building Products by 13.0% in the third quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock valued at $48,368,000 after acquiring an additional 22,367 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Installed Building Products in the third quarter worth approximately $353,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.
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.
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