AlphaQuest LLC Raises Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

AlphaQuest LLC boosted its position in Installed Building Products, Inc. (NYSE:IBP) by 79.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,851 shares of the construction company’s stock after purchasing an additional 822 shares during the quarter. AlphaQuest LLC’s holdings in Installed Building Products were worth $324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IBP. FMR LLC increased its stake in shares of Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after acquiring an additional 367,628 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in Installed Building Products in the third quarter worth about $54,499,000. Wellington Management Group LLP bought a new position in shares of Installed Building Products during the third quarter valued at approximately $34,635,000. Raymond James Financial Inc. purchased a new position in shares of Installed Building Products during the fourth quarter valued at approximately $23,776,000. Finally, State Street Corp boosted its position in shares of Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after purchasing an additional 96,780 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IBP. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. raised their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial dropped their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. Loop Capital reduced their price objective on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Benchmark decreased their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $219.40.

Installed Building Products Stock Up 1.8 %

IBP opened at $171.64 on Friday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 19.07 and a beta of 2.05. The firm has a 50 day moving average price of $182.38 and a 200-day moving average price of $205.59. Installed Building Products, Inc. has a twelve month low of $159.77 and a twelve month high of $281.04. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.86%. Installed Building Products’s payout ratio is currently 16.26%.

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.