Commonwealth Equity Services LLC Acquires 405 Shares of Installed Building Products, Inc. (NYSE:IBP)

Commonwealth Equity Services LLC boosted its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,266 shares of the construction company’s stock after acquiring an additional 405 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Installed Building Products were worth $923,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP bought a new stake in shares of Installed Building Products during the third quarter worth $34,635,000. Raymond James Financial Inc. purchased a new position in Installed Building Products in the 4th quarter worth about $23,776,000. State Street Corp lifted its holdings in Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after buying an additional 96,780 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Installed Building Products by 25.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock valued at $72,268,000 after buying an additional 83,205 shares during the period. Finally, Fisher Funds Management LTD bought a new position in Installed Building Products in the 4th quarter worth about $12,309,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $172.35 on Wednesday. Installed Building Products, Inc. has a fifty-two week low of $159.77 and a fifty-two week high of $281.04. The company has a market cap of $4.78 billion, a PE ratio of 19.15 and a beta of 2.05. 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 business has a 50-day simple moving average of $179.63 and a two-hundred day simple moving average of $202.12.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is currently 16.26%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBP. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. The Goldman Sachs Group dropped their price target on 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 decreased their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Benchmark cut their target price 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. Finally, DA Davidson lowered their price target 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 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 data from MarketBeat.com, Installed Building Products currently 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.