Zions Bancorporation N.A. Boosts Holdings in Installed Building Products, Inc. (NYSE:IBP)

Zions Bancorporation N.A. grew its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 19.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,920 shares of the construction company’s stock after acquiring an additional 2,297 shares during the quarter. Zions Bancorporation N.A.’s holdings in Installed Building Products were worth $2,439,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Arizona State Retirement System increased its position in Installed Building Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 56 shares during the last quarter. Dana Investment Advisors Inc. boosted its holdings in shares of Installed Building Products by 0.9% in the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock valued at $1,363,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Installed Building Products by 7.9% during the 4th quarter. Blue Trust Inc. now owns 1,257 shares of the construction company’s stock valued at $220,000 after buying an additional 92 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Installed Building Products by 2.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company’s stock worth $617,000 after buying an additional 93 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Installed Building Products by 8.9% in the 4th quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company’s stock worth $274,000 after buying an additional 128 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE:IBP opened at $178.08 on Wednesday. The firm has a 50-day moving average of $182.09 and a two-hundred day moving average of $203.44. 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 stock has a market cap of $4.94 billion, a P/E ratio of 19.79 and a beta of 2.05. Installed Building Products, Inc. has a 1-year low of $159.77 and a 1-year high of $281.04.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.83%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio is currently 16.26%.

Analyst Upgrades and Downgrades

Several brokerages have commented on IBP. 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. Loop Capital dropped their target price on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial dropped their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Finally, Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Two equities 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 company’s stock. According to data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and an average 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.