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

Flputnam Investment Management Co. bought a new position in shares of Installed Building Products, Inc. (NYSE:IBP) during the fourth quarter, Holdings Channel reports. The fund bought 1,472 shares of the construction company’s stock, valued at approximately $258,000.

Several other hedge funds have also modified their holdings of the stock. FMR LLC raised its holdings in Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC acquired a new stake in shares of Installed Building Products during the third quarter valued at approximately $54,499,000. Wellington Management Group LLP acquired a new stake in shares of Installed Building Products during the third quarter valued at approximately $34,635,000. State Street Corp lifted its position in shares of Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after acquiring an additional 96,780 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Installed Building Products by 25.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after purchasing an additional 83,205 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of IBP opened at $162.58 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The firm has a market cap of $4.58 billion, a PE ratio of 18.06 and a beta of 1.99. The firm’s 50 day moving average price is $182.89 and its 200 day moving average price is $208.28. Installed Building Products, Inc. has a twelve month low of $161.64 and a twelve month high of $281.04.

Installed Building Products Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBP. Truist Financial cut their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Benchmark decreased their price objective on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Monday. 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 research note on Friday. Finally, The Goldman Sachs Group reduced their price target 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $224.90.

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.