Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. raised its holdings in Installed Building Products, Inc. (NYSE:IBP) by 19.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,920 shares of the construction company’s stock after purchasing an additional 2,297 shares during the quarter. Zions Bancorporation N.A.’s holdings in Installed Building Products were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of IBP. Arizona State Retirement System boosted its stake in shares of Installed Building Products by 0.8% in the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock valued at $1,221,000 after buying an additional 56 shares in the last quarter. Dana Investment Advisors Inc. boosted its position in shares of Installed Building Products by 0.9% during the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 71 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Installed Building Products by 7.9% in the 4th quarter. Blue Trust Inc. now owns 1,257 shares of the construction company’s stock valued at $220,000 after purchasing an additional 92 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Installed Building Products by 2.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company’s stock valued at $617,000 after purchasing an additional 93 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of Installed Building Products by 8.9% in the fourth quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company’s stock valued at $274,000 after purchasing an additional 128 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IBP. Benchmark lowered their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Truist Financial dropped their price target on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Finally, Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $219.40.

Installed Building Products Price Performance

NYSE:IBP opened at $178.08 on Wednesday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 19.79 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 company’s 50-day moving average is $182.09 and its two-hundred day moving average is $203.44.

Installed Building Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.83%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is 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.