Franklin Resources Inc. Buys 22,367 Shares of Installed Building Products, Inc. (NYSE:IBP)

Franklin Resources Inc. increased its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,766 shares of the construction company’s stock after buying an additional 22,367 shares during the quarter. Franklin Resources Inc.’s holdings in Installed Building Products were worth $48,368,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. CWM LLC raised its stake in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Installed Building Products by 2.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock worth $523,000 after purchasing an additional 63 shares during the last quarter. Xponance Inc. increased its position in shares of Installed Building Products by 5.3% during the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock worth $312,000 after purchasing an additional 76 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Finally, NBC Securities Inc. boosted its position in Installed Building Products by 6.4% in the third quarter. NBC Securities Inc. now owns 1,784 shares of the construction company’s stock valued at $439,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Down 1.7 %

Shares of NYSE:IBP opened at $191.98 on Wednesday. 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 stock has a market cap of $5.40 billion, a price-to-earnings ratio of 21.33 and a beta of 1.93. The company has a 50 day moving average of $222.97 and a 200-day moving average of $222.87. Installed Building Products, Inc. has a one year low of $168.08 and a one year high of $281.04.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio is presently 15.56%.

Analysts Set New Price Targets

Several research firms have recently weighed in on IBP. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. DA Davidson cut their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $247.10.

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.