By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS bought a new position in Installed Building Products, Inc. (NYSE:IBP – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,000 shares of the construction company’s stock, valued at approximately $876,000.
Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Installed Building Products by 61.5% in 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 last quarter. Wellington Management Group LLP purchased a new position in Installed Building Products in the third quarter worth about $34,635,000. Raymond James Financial Inc. bought a new stake in shares of Installed Building Products during the 4th quarter valued at about $23,776,000. State Street Corp increased its position in shares of Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after purchasing an additional 96,780 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of 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 currently owned by hedge funds and other institutional investors.
Installed Building Products Stock Performance
NYSE:IBP opened at $171.79 on Tuesday. The stock has a 50-day moving average price of $180.21 and a 200 day moving average price of $202.48. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 12-month low of $159.77 and a 12-month high of $281.04. The stock has a market capitalization of $4.77 billion, a P/E ratio of 19.09 and a beta of 2.05.
Installed Building Products Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.37 per share. 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%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.
Wall Street Analyst Weigh In
IBP has been the subject of several recent research reports. Truist Financial cut their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Loop Capital reduced their price objective on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, DA Davidson decreased their price objective on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $219.40.
Read Our Latest Stock Report on IBP
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.
See Also
Receive News & Ratings for Installed Building Products Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Installed Building Products and related companies with MarketBeat.com’s FREE daily email newsletter.