Giverny Capital Inc. Acquires 17,620 Shares of Installed Building Products, Inc. (NYSE:IBP)

Giverny Capital Inc. boosted its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 504,735 shares of the construction company's stock after purchasing an additional 17,620 shares during the quarter. Installed Building Products comprises 3.2% of Giverny Capital Inc.'s holdings, making the stock its 12th biggest position. Giverny Capital Inc. owned 1.79% of Installed Building Products worth $88,455,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Installed Building Products in the fourth quarter valued at about $28,509,000. Raymond James Financial Inc. acquired a new position in shares of Installed Building Products during the 4th quarter worth about $23,776,000. FIL Ltd increased its position in shares of Installed Building Products by 14.0% in the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company's stock valued at $182,091,000 after acquiring an additional 127,215 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Installed Building Products by 25.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company's stock worth $72,268,000 after acquiring an additional 83,205 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Installed Building Products by 112.6% during the 4th quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock worth $26,949,000 after purchasing an additional 81,455 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBP has been the subject of a number of recent analyst reports. Benchmark cut their price objective 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. Truist Financial lowered their price target 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. The Goldman Sachs Group lowered their target price on Installed Building Products from $262.00 to $228.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. DA Davidson cut 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 report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a "hold" rating and a $183.00 target price for the company. 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. According to MarketBeat, Installed Building Products presently has an average rating of "Hold" and an average target price of $216.09.

Installed Building Products Trading Up 1.5 %

Shares of NYSE IBP traded up $2.39 during midday trading on Friday, reaching $158.33. The stock had a trading volume of 357,921 shares, compared to its average volume of 333,217. Installed Building Products, Inc. has a twelve month low of $153.40 and a twelve month high of $281.04. 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 company's 50 day moving average price is $171.12 and its 200 day moving average price is $195.70. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 17.59 and a beta of 1.84.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.37 per share. This is an increase 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 0.93%. The ex-dividend date of this dividend was Friday, March 14th. Installed Building Products's dividend payout ratio (DPR) is presently 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.