Quantbot Technologies LP Purchases 5,081 Shares of Installed Building Products, Inc. (NYSE:IBP)

Quantbot Technologies LP raised its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 178.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,924 shares of the construction company’s stock after purchasing an additional 5,081 shares during the quarter. Quantbot Technologies LP’s holdings in Installed Building Products were worth $1,389,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Installed Building Products by 121.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after acquiring an additional 8,815 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new position in Installed Building Products in the 3rd quarter valued at approximately $54,499,000. Citigroup Inc. boosted its stake in Installed Building Products by 54.0% during the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after purchasing an additional 16,569 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Installed Building Products by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company’s stock worth $22,234,000 after purchasing an additional 4,467 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Up 4.3 %

NYSE IBP opened at $179.60 on Tuesday. The stock’s 50-day moving average price is $182.29 and its 200-day moving average price is $203.63. The company has a market capitalization of $4.99 billion, a P/E ratio of 19.96 and a beta of 2.05. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.82%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is currently 16.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial reduced their price objective 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. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Benchmark lowered their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Finally, StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $219.40.

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.