Clearbridge Investments LLC Acquires 31,083 Shares of Installed Building Products, Inc. (NYSE:IBP)

Clearbridge Investments LLC grew its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 248,827 shares of the construction company's stock after purchasing an additional 31,083 shares during the quarter. Clearbridge Investments LLC owned about 0.88% of Installed Building Products worth $43,607,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in IBP. Joseph Group Capital Management boosted its stake in Installed Building Products by 13.9% during the 4th quarter. Joseph Group Capital Management now owns 13,848 shares of the construction company's stock worth $2,427,000 after acquiring an additional 1,688 shares during the last quarter. Pertento Partners LLP boosted its position in shares of Installed Building Products by 18.5% during the fourth quarter. Pertento Partners LLP now owns 233,199 shares of the construction company's stock worth $40,868,000 after purchasing an additional 36,395 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Installed Building Products by 3.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 3,992 shares of the construction company's stock valued at $700,000 after buying an additional 146 shares during the period. Premier Fund Managers Ltd increased its position in shares of Installed Building Products by 8.4% in the 4th quarter. Premier Fund Managers Ltd now owns 86,842 shares of the construction company's stock valued at $15,161,000 after buying an additional 6,734 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Installed Building Products by 8.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,397 shares of the construction company's stock worth $595,000 after buying an additional 257 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Analyst Ratings Changes

IBP has been the subject of a number of research reports. Truist Financial lowered their target price on Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a research note on Monday, March 3rd. DA Davidson lowered their price objective 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. Benchmark dropped their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Seaport Res Ptn lowered shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 13th. Finally, Loop Capital lowered their target price on Installed Building Products from $230.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $216.09.

Installed Building Products Stock Up 5.7 %

IBP stock traded up $9.40 during mid-day trading on Friday, reaching $173.19. The company had a trading volume of 784,236 shares, compared to its average volume of 326,252. Installed Building Products, Inc. has a 52 week low of $157.93 and a 52 week high of $281.04. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 19.24 and a beta of 1.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The stock has a 50 day simple moving average of $177.57 and a two-hundred day simple moving average of $200.80.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.85%. This is an increase from Installed Building Products's previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. Installed Building Products's payout ratio is presently 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.