National Bank of Canada FI Has $251,000 Stock Position in Installed Building Products, Inc. (NYSE:IBP)

National Bank of Canada FI lifted its position in Installed Building Products, Inc. (NYSE:IBP) by 1,944.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,431 shares of the construction company’s stock after buying an additional 1,361 shares during the period. National Bank of Canada FI’s holdings in Installed Building Products were worth $251,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Curio Wealth LLC bought a new stake in shares of Installed Building Products in the fourth quarter worth about $30,000. Smartleaf Asset Management LLC grew its position in shares of Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after purchasing an additional 272 shares during the period. Principal Securities Inc. increased its stake in Installed Building Products by 20.0% during the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after purchasing an additional 186 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in Installed Building Products during the 3rd quarter worth approximately $203,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Installed Building Products by 366.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 854 shares of the construction company’s stock worth $210,000 after buying an additional 671 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Down 1.5 %

NYSE IBP opened at $170.97 on Friday. The company has a market cap of $4.75 billion, a PE ratio of 19.00 and a beta of 1.84. Installed Building Products, Inc. has a 12 month low of $153.85 and a 12 month high of $281.04. The stock has a 50 day moving average of $173.67 and a 200-day moving average of $198.20. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

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 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. Installed Building Products’s dividend payout ratio is presently 16.26%.

Wall Street Analysts Forecast Growth

IBP has been the subject of several research analyst reports. Loop Capital reduced their price target on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They issued a “hold” rating and a $183.00 target price for the company. Truist Financial cut 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. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, DA Davidson dropped their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $216.09.

About Installed Building Products

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.