Clearbridge Investments LLC Has $43.61 Million Holdings in Installed Building Products, Inc. (NYSE:IBP)

Clearbridge Investments LLC raised its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 14.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 248,827 shares of the construction company’s stock after buying an additional 31,083 shares during the period. Clearbridge Investments LLC’s holdings in Installed Building Products were worth $43,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC purchased a new position in shares of Installed Building Products during the fourth quarter valued at approximately $30,000. Quarry LP boosted its holdings 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 acquiring an additional 286 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after acquiring an additional 272 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in shares of Installed Building Products in the third quarter valued at about $203,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Installed Building Products by 366.7% in the third quarter. Public Employees Retirement System of Ohio now owns 854 shares of the construction company’s stock valued at $210,000 after purchasing an additional 671 shares during the last quarter. 99.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on IBP. The Goldman Sachs Group reduced 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. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a report on Tuesday. They set a “hold” rating and a $183.00 price target on the stock. Benchmark decreased their target price on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Truist Financial lowered their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $216.09.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $172.35 on Wednesday. The company has a 50-day moving average price of $179.63 and a two-hundred day moving average price of $202.12. Installed Building Products, Inc. has a twelve month low of $159.77 and a twelve month 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. The firm has a market capitalization of $4.78 billion, a PE ratio of 19.15 and a beta of 2.05.

Installed Building Products Increases Dividend

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

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.