Installed Building Products, Inc. (NYSE:IBP) Shares Acquired by Joseph Group Capital Management

Joseph Group Capital Management increased its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 13.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 13,848 shares of the construction company’s stock after acquiring an additional 1,688 shares during the period. Joseph Group Capital Management’s holdings in Installed Building Products were worth $2,427,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Curio Wealth LLC acquired a new position in Installed Building Products in the 4th quarter worth $30,000. Advisors Asset Management Inc. boosted its stake in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after acquiring an additional 140 shares during the period. Smartleaf Asset Management LLC boosted its stake in Installed Building Products by 295.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after acquiring an additional 272 shares during the period. Quarry LP increased its position in Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after buying an additional 286 shares during the period. Finally, Principal Securities Inc. increased its holdings in shares of Installed Building Products by 20.0% in the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after acquiring an additional 186 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 0.8 %

Shares of NYSE:IBP opened at $170.96 on Friday. 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 stock’s 50-day moving average is $180.70 and its 200-day moving average is $202.78. The company has a market cap of $4.75 billion, a P/E ratio of 19.00 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.37 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s payout ratio is currently 16.26%.

Analyst Ratings Changes

A number of research analysts have recently commented on IBP shares. Truist Financial lowered their price target 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. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, The Goldman Sachs Group cut their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Installed Building Products presently 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.