Intech Investment Management LLC Boosts Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Intech Investment Management LLC boosted its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 51.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,452 shares of the construction company's stock after purchasing an additional 8,602 shares during the quarter. Intech Investment Management LLC owned about 0.09% of Installed Building Products worth $4,460,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC lifted its holdings in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company's stock valued at $237,786,000 after acquiring an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in shares of Installed Building Products during the 3rd quarter worth $54,499,000. Wellington Management Group LLP purchased a new position in Installed Building Products during the third quarter worth about $34,635,000. Raymond James Financial Inc. purchased a new position in Installed Building Products during the fourth quarter worth approximately $23,776,000. Finally, State Street Corp grew its position in Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company's stock valued at $307,472,000 after acquiring an additional 96,780 shares during the period. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Stock Performance

NYSE IBP traded down $2.52 on Friday, hitting $172.37. 1,131,120 shares of the stock were exchanged, compared to its average volume of 312,427. 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 business's fifty day moving average is $182.19 and its 200 day moving average is $203.85. The company has a market capitalization of $4.78 billion, a PE ratio of 19.15 and a beta of 2.05. Installed Building Products, Inc. has a 52 week low of $159.77 and a 52 week high of $281.04.

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Installed Building Products Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IBP shares. The Goldman Sachs Group lowered their price target on shares of Installed Building Products from $262.00 to $228.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Seaport Res Ptn lowered shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Truist Financial reduced their price objective on Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a research report on Monday, March 3rd. Benchmark reduced their target price on shares of Installed Building Products from $250.00 to $210.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Finally, Evercore ISI downgraded shares of Installed Building Products from an "outperform" rating to an "underperform" rating and reduced their price objective for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $219.40.

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.