Wellington Management Group LLP Raises Stake in Installed Building Products, Inc. (NYSE:IBP)

Wellington Management Group LLP increased its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,579 shares of the construction company’s stock after buying an additional 2,939 shares during the period. Wellington Management Group LLP owned 0.51% of Installed Building Products worth $25,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Curio Wealth LLC purchased a new position in shares of Installed Building Products during the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC increased its holdings in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares during the period. Quarry LP raised its position in Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after purchasing an additional 286 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Installed Building Products by 20.0% in the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after buying an additional 186 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in shares of Installed Building Products during the 3rd quarter worth $203,000. Institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

IBP has been the subject of several recent research reports. Loop Capital decreased their price objective 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. Benchmark lowered their price target on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Installed Building Products in a report on Tuesday, April 1st. They set a “hold” rating and a $183.00 price objective on the stock. 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. Finally, StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $216.09.

Installed Building Products Stock Down 4.9 %

Shares of IBP stock opened at $164.71 on Tuesday. The stock’s fifty day moving average price is $176.78 and its 200 day moving average price is $200.23. Installed Building Products, Inc. has a 1-year low of $157.93 and a 1-year high of $281.04. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 18.30 and a beta of 1.84. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.37 per share. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.90%. Installed Building Products’s payout ratio is presently 16.26%.

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.