Envestnet Portfolio Solutions Inc. Has $369,000 Position in Installed Building Products, Inc. (NYSE:IBP)

Envestnet Portfolio Solutions Inc. raised its stake in Installed Building Products, Inc. (NYSE:IBP) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,105 shares of the construction company’s stock after buying an additional 282 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Installed Building Products were worth $369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathstone Holdings LLC increased its stake in shares of Installed Building Products by 91.6% in the third quarter. Pathstone Holdings LLC now owns 7,102 shares of the construction company’s stock worth $1,749,000 after acquiring an additional 3,396 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after purchasing an additional 140 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Installed Building Products by 8.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock worth $68,065,000 after purchasing an additional 21,942 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Installed Building Products by 54.0% during the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after buying an additional 16,569 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of Installed Building Products in the 3rd quarter valued at approximately $111,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Down 1.0 %

IBP opened at $176.36 on Thursday. Installed Building Products, Inc. has a 1-year low of $159.77 and a 1-year high of $281.04. The business has a 50 day moving average of $181.74 and a 200-day moving average of $203.25. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 19.60 and a beta of 2.05. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.84%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Benchmark cut their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. DA Davidson decreased their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Loop Capital lowered their target price on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group cut 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Installed Building Products has an average rating of “Hold” and an average price target of $219.40.

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.