AlphaQuest LLC Boosts Stake in Installed Building Products, Inc. (NYSE:IBP)

AlphaQuest LLC boosted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 79.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,851 shares of the construction company’s stock after buying an additional 822 shares during the quarter. AlphaQuest LLC’s holdings in Installed Building Products were worth $324,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of IBP. Advisors Asset Management Inc. raised its stake in shares of Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares during the period. Smartleaf Asset Management LLC increased its holdings in Installed Building Products by 295.7% in 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 in the last quarter. Quarry LP raised its stake in Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after acquiring an additional 286 shares during the period. Centaurus Financial Inc. purchased a new position in Installed Building Products during the third quarter valued at approximately $111,000. Finally, Principal Securities Inc. boosted its position in shares of Installed Building Products by 20.0% in the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after purchasing an additional 186 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IBP shares. The Goldman Sachs Group lowered their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $238.00 to $206.00 in a research report on Monday, December 16th. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial reduced 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 report on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $219.40.

Installed Building Products Stock Up 1.8 %

Shares of NYSE 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. Installed Building Products, Inc. has a 12-month low of $159.77 and a 12-month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm’s 50-day moving average price is $182.38 and its 200-day moving average price is $205.59.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.86%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

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.