Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by Capital Research Global Investors

Capital Research Global Investors increased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 244,008 shares of the construction company’s stock after purchasing an additional 25,749 shares during the period. Capital Research Global Investors’ holdings in Installed Building Products were worth $42,762,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of Installed Building Products by 8.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company’s stock worth $923,000 after buying an additional 405 shares during the period. Principal Financial Group Inc. boosted its holdings in Installed Building Products by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company’s stock valued at $22,234,000 after acquiring an additional 4,467 shares during the period. Smartleaf Asset Management LLC grew its position in Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after acquiring an additional 272 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Installed Building Products by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company’s stock worth $26,949,000 after purchasing an additional 81,455 shares during the period. Finally, Moody Aldrich Partners LLC lifted its position in shares of Installed Building Products by 28.3% during the fourth quarter. Moody Aldrich Partners LLC now owns 20,729 shares of the construction company’s stock worth $3,633,000 after purchasing an additional 4,568 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Down 2.3 %

NYSE IBP opened at $154.60 on Tuesday. 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 firm’s fifty day moving average is $170.16 and its two-hundred day moving average is $193.82. Installed Building Products, Inc. has a one year low of $151.27 and a one year high of $281.04. The firm has a market cap of $4.27 billion, a PE ratio of 17.18 and a beta of 1.84.

Installed Building Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is currently 16.26%.

Analysts Set New Price Targets

Several brokerages recently weighed in on IBP. Truist Financial cut their target price on shares of 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. Benchmark reduced their price objective on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. DA Davidson lowered their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group cut their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price target for the company. Two 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. Based on data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and a consensus target price of $216.09.

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.