FIL Ltd Boosts Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

FIL Ltd boosted its stake in Installed Building Products, Inc. (NYSE:IBP) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,039,038 shares of the construction company’s stock after purchasing an additional 127,215 shares during the quarter. FIL Ltd owned about 3.69% of Installed Building Products worth $182,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Walleye Capital LLC grew its holdings in Installed Building Products by 161.7% during the 3rd quarter. Walleye Capital LLC now owns 1,708 shares of the construction company’s stock valued at $421,000 after buying an additional 4,478 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Installed Building Products in the third quarter valued at $260,000. Integrated Wealth Concepts LLC grew its holdings in shares of Installed Building Products by 81.6% in the third quarter. Integrated Wealth Concepts LLC now owns 3,395 shares of the construction company’s stock valued at $836,000 after purchasing an additional 1,525 shares in the last quarter. Stifel Financial Corp increased its position in Installed Building Products by 13.0% in the third quarter. Stifel Financial Corp now owns 11,006 shares of the construction company’s stock worth $2,710,000 after purchasing an additional 1,269 shares during the last quarter. Finally, State Street Corp lifted its position in Installed Building Products by 8.4% during the third 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. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Installed Building Products stock opened at $157.78 on Wednesday. Installed Building Products, Inc. has a fifty-two week low of $154.01 and a fifty-two week high of $281.04. The company has a market capitalization of $4.38 billion, a PE ratio of 17.53 and a beta of 1.84. The company has a 50 day moving average price of $175.17 and a 200-day moving average price of $199.36. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products Increases Dividend

The company also recently declared 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. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.94%. Installed Building Products’s dividend payout ratio is presently 16.26%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial reduced 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 report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a “hold” rating and a $183.00 price objective on the stock. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Finally, StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and a consensus 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.