Geode Capital Management LLC Grows Holdings in Installed Building Products, Inc. (NYSE:IBP)

Geode Capital Management LLC grew its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 633,556 shares of the construction company's stock after acquiring an additional 10,553 shares during the period. Geode Capital Management LLC owned 2.25% of Installed Building Products worth $111,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IBP. Curio Wealth LLC purchased a new position in Installed Building Products during the fourth quarter worth about $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock worth $64,000 after acquiring an additional 272 shares during the last quarter. Principal Securities Inc. grew its position 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 worth $196,000 after acquiring an additional 186 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of Installed Building Products during the 3rd quarter valued at about $203,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Installed Building Products by 366.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 854 shares of the construction company's stock valued at $210,000 after buying an additional 671 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. The Goldman Sachs Group reduced their price objective 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. Deutsche Bank Aktiengesellschaft assumed coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a "hold" rating and a $183.00 target price for the company. Truist Financial reduced their price target 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. Finally, Loop Capital lowered their price objective on Installed Building Products from $230.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $216.09.

Installed Building Products Trading Up 0.2 %

Shares of NYSE:IBP traded up $0.30 on Tuesday, hitting $168.64. The company had a trading volume of 41,168 shares, compared to its average volume of 331,509. Installed Building Products, Inc. has a 1 year low of $153.85 and a 1 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's 50-day simple moving average is $172.70 and its two-hundred day simple moving average is $196.81. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 18.72 and a beta of 1.84.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.88%. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. Installed Building Products's payout ratio is presently 16.26%.

About Installed Building Products

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.