Summit Investment Advisors Inc. Has $439,000 Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Summit Investment Advisors Inc. increased its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,507 shares of the construction company’s stock after purchasing an additional 79 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Installed Building Products were worth $439,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in shares of Installed Building Products during the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its position in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after acquiring an additional 272 shares during the last quarter. Headlands Technologies LLC increased its holdings in Installed Building Products by 819.0% during the 4th quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock valued at $127,000 after purchasing an additional 647 shares in the last quarter. Principal Securities Inc. raised its position in Installed Building Products by 20.0% in the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock valued at $196,000 after purchasing an additional 186 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Installed Building Products by 366.7% in the third quarter. Public Employees Retirement System of Ohio now owns 854 shares of the construction company’s stock worth $210,000 after purchasing an additional 671 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

IBP has been the subject of a number of research reports. DA Davidson lowered their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Benchmark lowered their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Loop Capital reduced their target price on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. The Goldman Sachs Group lowered their price target on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Truist Financial reduced their price objective 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $216.09.

Installed Building Products Stock Performance

Shares of IBP stock opened at $158.33 on Friday. The stock has a 50-day moving average of $170.63 and a 200-day moving average of $194.74. Installed Building Products, Inc. has a one year low of $153.40 and a one year high of $281.04. The stock has a market cap of $4.37 billion, a PE ratio of 17.59 and a beta of 1.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.93%. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Installed Building Products Company 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.