JPMorgan Chase & Co. Acquires 81,455 Shares of Installed Building Products, Inc. (NYSE:IBP)

JPMorgan Chase & Co. boosted its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 112.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,772 shares of the construction company's stock after buying an additional 81,455 shares during the period. JPMorgan Chase & Co. owned approximately 0.55% of Installed Building Products worth $26,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBP. Arizona State Retirement System grew its position in shares of Installed Building Products by 0.8% in the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock valued at $1,221,000 after purchasing an additional 56 shares in the last quarter. Dana Investment Advisors Inc. increased its position in shares of Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock valued at $1,363,000 after buying an additional 71 shares during the period. Blue Trust Inc. lifted its holdings in shares of Installed Building Products by 7.9% in the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company's stock worth $220,000 after buying an additional 92 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in Installed Building Products by 2.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company's stock valued at $617,000 after acquiring an additional 93 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in Installed Building Products by 8.9% during the 4th quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company's stock worth $274,000 after acquiring an additional 128 shares during the period. Institutional investors own 99.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Loop Capital decreased their target price on Installed Building Products from $230.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Truist Financial lowered their price target on 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 cut their price objective on Installed Building Products from $262.00 to $228.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, DA Davidson dropped their target price 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $216.09.

Installed Building Products Trading Down 1.5 %

Shares of NYSE IBP traded down $2.51 during mid-day trading on Friday, hitting $167.86. The stock had a trading volume of 604,636 shares, compared to its average volume of 332,016. The business has a 50 day moving average price of $173.17 and a two-hundred day moving average price of $197.38. Installed Building Products, Inc. has a 1 year low of $153.85 and a 1 year 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 firm has a market cap of $4.66 billion, a P/E ratio of 18.65 and a beta of 1.84.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.37 per share. This is a positive change from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, March 14th. Installed Building Products's dividend payout ratio is currently 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.