Bank of New York Mellon Corp Increases Position in Installed Building Products, Inc. (NYSE:IBP)

Bank of New York Mellon Corp lifted its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 205,283 shares of the construction company's stock after purchasing an additional 4,641 shares during the quarter. Bank of New York Mellon Corp owned about 0.73% of Installed Building Products worth $35,976,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in shares of Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company's stock worth $57,000 after acquiring an additional 140 shares in the last quarter. Quarry LP grew its position in shares of Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company's stock worth $78,000 after buying an additional 286 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Installed Building Products in the third quarter worth $111,000. Principal Securities Inc. boosted its holdings in Installed Building Products by 20.0% in the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company's stock valued at $196,000 after acquiring an additional 186 shares in the last quarter. Finally, Prudent Man Advisors LLC bought a new position in Installed Building Products in the 3rd quarter worth $203,000. Institutional investors own 99.61% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IBP shares. The Goldman Sachs Group decreased their target price on 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. JPMorgan Chase & Co. lifted their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Seaport Res Ptn downgraded shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. Loop Capital cut their price objective on shares of Installed Building Products from $230.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Finally, Truist Financial lowered their price objective on Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $219.40.

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Installed Building Products Stock Performance

Shares of Installed Building Products stock traded down $7.27 during trading hours on Tuesday, reaching $171.68. 438,819 shares of the stock traded hands, compared to its average volume of 382,308. The company has a 50 day moving average price of $182.68 and a 200 day moving average price of $206.91. Installed Building Products, Inc. has a one year low of $159.76 and a one year 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 $4.77 billion, a price-to-earnings ratio of 19.08 and a beta of 2.05.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products's dividend payout ratio is currently 16.26%.

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.