Flputnam Investment Management Co. Invests $258,000 in Installed Building Products, Inc. (NYSE:IBP)

Flputnam Investment Management Co. purchased a new stake in Installed Building Products, Inc. (NYSE:IBP) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,472 shares of the construction company’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBP. Advisors Asset Management Inc. grew its holdings 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 purchasing an additional 140 shares during the last quarter. Quarry LP grew its stake in Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after buying an additional 286 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in Installed Building Products in the third quarter worth $111,000. Principal Securities Inc. lifted its stake in Installed Building Products by 20.0% in 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. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Installed Building Products during the third quarter valued at $203,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Down 5.1 %

Shares of IBP stock opened at $162.58 on Tuesday. The stock has a 50-day simple moving average of $182.89 and a 200 day simple moving average of $208.28. The stock has a market capitalization of $4.58 billion, a P/E ratio of 18.06 and a beta of 1.99. Installed Building Products, Inc. has a fifty-two week low of $161.64 and a fifty-two week high of $281.04. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.91%. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Benchmark cut their price objective 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. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $203.00 to $197.00 in a research report on Friday, November 8th. The Goldman Sachs Group reduced their price target on 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, Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and an average price target of $224.90.

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.