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

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

A number of other institutional investors and hedge funds have also bought and sold shares of IBP. Quarry LP grew its position in shares of Installed Building Products by 953.3% during the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after purchasing an additional 286 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 worth $64,000 after purchasing an additional 272 shares during the period. Coldstream Capital Management Inc. purchased a new stake in Installed Building Products during the 3rd quarter valued at approximately $203,000. Public Employees Retirement System of Ohio raised its position in shares of Installed Building Products by 366.7% during the third quarter. Public Employees Retirement System of Ohio now owns 854 shares of the construction company’s stock valued at $210,000 after buying an additional 671 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new position in shares of Installed Building Products in the third quarter worth $247,000. 99.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IBP has been the subject of several research analyst reports. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. DA Davidson reduced their target price on 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 target price on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Benchmark cut their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Truist Financial decreased their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $216.09.

Installed Building Products Stock Up 0.5 %

Shares of IBP opened at $172.35 on Wednesday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The business has a fifty day moving average of $179.63 and a 200 day moving average of $202.12. The company has a market cap of $4.78 billion, a PE ratio of 19.15 and a beta of 2.05. Installed Building Products, Inc. has a 52-week low of $159.77 and a 52-week high of $281.04.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.86%. 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 dividend payout ratio (DPR) is 16.26%.

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.