Norges Bank Takes Position in Installed Building Products, Inc. (NYSE:IBP)

Norges Bank acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 162,677 shares of the construction company's stock, valued at approximately $28,509,000. Norges Bank owned 0.58% of Installed Building Products as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Installed Building Products by 112.6% in the 4th quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock valued at $26,949,000 after acquiring an additional 81,455 shares during the last quarter. Pier Capital LLC raised its stake in shares of Installed Building Products by 3.0% in the fourth quarter. Pier Capital LLC now owns 37,225 shares of the construction company's stock worth $6,524,000 after purchasing an additional 1,090 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in Installed Building Products by 19.8% during the 4th quarter. Zions Bancorporation N.A. now owns 13,920 shares of the construction company's stock valued at $2,439,000 after acquiring an additional 2,297 shares during the period. Vanguard Group Inc. boosted its stake in shares of Installed Building Products by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company's stock worth $462,100,000 after buying an additional 16,597 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Installed Building Products during the 4th quarter valued at about $876,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Trading Down 1.5 %

Shares of IBP traded down $2.51 on Friday, hitting $167.86. 604,636 shares of the stock traded hands, compared to its average volume of 331,439. The stock's 50 day moving average is $173.17 and its two-hundred day moving average is $197.71. Installed Building Products, Inc. has a 1 year low of $153.85 and a 1 year high of $281.04. The firm has a market capitalization of $4.66 billion, a P/E ratio of 18.65 and a beta of 1.84. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.37 dividend. This is an increase from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.88%. The ex-dividend date was Friday, March 14th. Installed Building Products's dividend payout ratio is currently 16.26%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IBP. StockNews.com lowered 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 shares of Installed Building Products from $262.00 to $228.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Truist Financial dropped their price objective on Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a research note on Monday, March 3rd. Seaport Res Ptn lowered Installed Building Products from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Finally, DA Davidson reduced their price target on Installed Building Products from $260.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Installed Building Products has a consensus rating of "Hold" and a consensus target price of $216.09.

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.