Aquatic Capital Management LLC Acquires New Position in Installed Building Products, Inc. (NYSE:IBP)

Aquatic Capital Management LLC acquired a new position in Installed Building Products, Inc. (NYSE:IBP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,252 shares of the construction company’s stock, valued at approximately $1,621,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IBP. Barclays PLC increased its stake in Installed Building Products by 61.9% in the 3rd quarter. Barclays PLC now owns 97,711 shares of the construction company’s stock worth $24,063,000 after buying an additional 37,347 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Installed Building Products by 13.0% during the third quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock worth $48,368,000 after purchasing an additional 22,367 shares in the last quarter. Park Avenue Securities LLC raised its stake in Installed Building Products by 14.3% during the 4th quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock valued at $528,000 after purchasing an additional 376 shares during the period. Radnor Capital Management LLC lifted its holdings in Installed Building Products by 61.5% in the 4th quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock worth $1,076,000 after purchasing an additional 2,338 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Installed Building Products by 34.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,399 shares of the construction company’s stock valued at $245,000 after buying an additional 357 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Trading Up 0.2 %

Shares of NYSE IBP opened at $168.18 on Wednesday. Installed Building Products, Inc. has a fifty-two week low of $151.27 and a fifty-two week high of $281.04. 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 company has a market cap of $4.64 billion, a price-to-earnings ratio of 18.69 and a beta of 1.84. The business’s 50 day moving average price is $169.18 and its 200-day moving average price is $191.17.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.88%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Wall Street Analyst Weigh In

Several research firms have recently commented on IBP. DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Loop Capital decreased their price target on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. The Goldman Sachs Group cut their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Benchmark dropped their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Truist Financial cut their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $216.09.

Installed Building Products Company 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.