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

Raymond James Financial Inc. acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 135,667 shares of the construction company’s stock, valued at approximately $23,776,000. Raymond James Financial Inc. owned about 0.48% of Installed Building Products at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IBP. Advisors Asset Management Inc. boosted its position in shares of Installed Building Products by 152.2% during the third 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 during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Installed Building Products by 295.7% during the fourth 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 during the last quarter. Quarry LP boosted its position in shares of Installed Building Products by 953.3% during the third quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after buying an additional 286 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Installed Building Products during the third quarter valued at $111,000. Finally, Principal Securities Inc. boosted its position in shares of Installed Building Products by 20.0% during the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock valued at $196,000 after buying an additional 186 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IBP has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Truist Financial lowered their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. DA Davidson lowered their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Loop Capital lowered their target price on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $219.40.

Installed Building Products Stock Up 1.8 %

NYSE IBP opened at $171.64 on Friday. The stock’s 50-day moving average price is $182.38 and its 200-day moving average price is $205.46. 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 52 week low of $159.77 and a 52 week high of $281.04. The company has a market capitalization of $4.76 billion, a P/E ratio of 19.07 and a beta of 2.05.

Installed Building Products Increases Dividend

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

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.