KLP Kapitalforvaltning AS Invests $876,000 in Installed Building Products, Inc. (NYSE:IBP)

KLP Kapitalforvaltning AS acquired a new position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,000 shares of the construction company's stock, valued at approximately $876,000.

Several other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP raised its holdings in Installed Building Products by 178.7% during the fourth quarter. Quantbot Technologies LP now owns 7,924 shares of the construction company's stock worth $1,389,000 after purchasing an additional 5,081 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Installed Building Products during the 4th quarter worth approximately $223,000. Royal London Asset Management Ltd. lifted its holdings in shares of Installed Building Products by 21.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 118,867 shares of the construction company's stock valued at $20,831,000 after buying an additional 20,700 shares during the period. Xponance Inc. lifted its holdings in shares of Installed Building Products by 10.4% in the 4th quarter. Xponance Inc. now owns 1,735 shares of the construction company's stock valued at $304,000 after buying an additional 163 shares during the period. Finally, Boston Partners boosted its stake in shares of Installed Building Products by 21.8% in the fourth quarter. Boston Partners now owns 87,342 shares of the construction company's stock valued at $15,668,000 after buying an additional 15,610 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Price Performance

Installed Building Products stock traded up $9.40 during mid-day trading on Friday, hitting $173.19. 784,236 shares of the company were exchanged, compared to its average volume of 326,252. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products, Inc. has a 12-month low of $157.93 and a 12-month high of $281.04. The business's 50 day simple moving average is $177.57 and its two-hundred day simple moving average is $201.05. The company has a market capitalization of $4.81 billion, a P/E ratio of 19.24 and a beta of 1.84.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.37 per share. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, March 14th. Installed Building Products's dividend payout ratio (DPR) is currently 16.26%.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of recent analyst reports. Loop Capital reduced 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. Truist Financial reduced their price objective on shares of 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Installed Building Products in a research report on Tuesday. They set a "hold" rating and a $183.00 target price on the stock. Seaport Res Ptn cut shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Finally, Evercore ISI lowered Installed Building Products from an "outperform" rating to an "underperform" rating and decreased their price target for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Two investment 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 MarketBeat.com, Installed Building Products has a consensus rating of "Hold" and an average price target of $216.09.

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.