Wellington Management Group LLP Increases Position in Installed Building Products, Inc. (NYSE:IBP)

Wellington Management Group LLP increased its position in Installed Building Products, Inc. (NYSE:IBP) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,579 shares of the construction company’s stock after acquiring an additional 2,939 shares during the period. Wellington Management Group LLP’s holdings in Installed Building Products were worth $25,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Installed Building Products in the fourth quarter worth about $28,509,000. Raymond James Financial Inc. acquired a new position in Installed Building Products in the 4th quarter worth approximately $23,776,000. State Street Corp increased its holdings in Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Installed Building Products by 25.3% during 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 buying an additional 83,205 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Installed Building Products by 112.6% during the 4th quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company’s stock valued at $26,949,000 after acquiring an additional 81,455 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $164.71 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The firm has a fifty day moving average of $176.78 and a 200 day moving average of $200.23. The firm has a market cap of $4.57 billion, a PE ratio of 18.30 and a beta of 1.84. Installed Building Products, Inc. has a one year low of $157.93 and a one year high of $281.04.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is currently 16.26%.

Analyst Ratings Changes

A number of research firms recently issued reports on IBP. DA Davidson decreased 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 report on Friday, February 28th. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Benchmark lowered their target price on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Evercore ISI cut 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. Finally, Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and an average price target of $216.09.

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.