Clearbridge Investments LLC Buys 31,083 Shares of Installed Building Products, Inc. (NYSE:IBP)

Clearbridge Investments LLC raised its stake in Installed Building Products, Inc. (NYSE:IBP) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,827 shares of the construction company’s stock after buying an additional 31,083 shares during the period. Clearbridge Investments LLC owned 0.88% of Installed Building Products worth $43,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBP. Arizona State Retirement System raised its holdings in Installed Building Products by 0.8% in the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock valued at $1,221,000 after buying an additional 56 shares during the last quarter. Dana Investment Advisors Inc. lifted its holdings in shares of Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 71 shares during the period. Blue Trust Inc. grew its stake in shares of Installed Building Products by 7.9% in the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company’s stock worth $220,000 after purchasing an additional 92 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Installed Building Products by 2.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company’s stock valued at $617,000 after purchasing an additional 93 shares during the period. Finally, Sanctuary Advisors LLC raised its position in Installed Building Products by 8.9% during the 4th quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company’s stock worth $274,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $172.35 on Wednesday. The business has a 50-day simple moving average of $179.63 and a 200 day simple moving average of $202.12. Installed Building Products, Inc. has a one year low of $159.77 and a one year high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 19.15 and a beta of 2.05.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.37 per share. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.86%. Installed Building Products’s payout ratio is currently 16.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IBP shares. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Installed Building Products in a report on Tuesday. They set a “hold” rating and a $183.00 price target for the company. The Goldman Sachs Group decreased 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. Finally, DA Davidson lowered their target price on shares of 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $216.09.

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.