Bank of New York Mellon Corp Increases Stake in Installed Building Products, Inc. (NYSE:IBP)

Bank of New York Mellon Corp boosted its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,283 shares of the construction company’s stock after purchasing an additional 4,641 shares during the period. Bank of New York Mellon Corp owned about 0.73% of Installed Building Products worth $35,976,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of IBP. Wealth Enhancement Advisory Services LLC purchased a new stake in Installed Building Products in the third quarter worth $414,000. US Bancorp DE grew its stake in Installed Building Products by 148.4% in the third quarter. US Bancorp DE now owns 2,809 shares of the construction company’s stock worth $692,000 after purchasing an additional 1,678 shares during the period. Van ECK Associates Corp grew its stake in Installed Building Products by 26.6% in the third quarter. Van ECK Associates Corp now owns 21,736 shares of the construction company’s stock worth $4,936,000 after purchasing an additional 4,562 shares during the period. Verdence Capital Advisors LLC purchased a new stake in Installed Building Products in the third quarter worth $203,000. Finally, Atria Investments Inc grew its stake in Installed Building Products by 6.5% in the third quarter. Atria Investments Inc now owns 2,540 shares of the construction company’s stock worth $625,000 after purchasing an additional 156 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

IBP stock opened at $177.19 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The business has a 50 day simple moving average of $182.58 and a 200-day simple moving average of $207.28. The firm has a market capitalization of $4.92 billion, a PE ratio of 19.69 and a beta of 2.05. Installed Building Products, Inc. has a 1 year low of $159.76 and a 1 year high of $281.04.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.84%. This is a boost 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 payout ratio is presently 16.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IBP shares. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Loop Capital dropped their target price on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday. The Goldman Sachs Group dropped their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Benchmark dropped their target price on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $219.40.

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.