Erste Asset Management GmbH Purchases 8,667 Shares of Installed Building Products, Inc. (NYSE:IBP)

Erste Asset Management GmbH raised its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 11.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,194 shares of the construction company’s stock after acquiring an additional 8,667 shares during the quarter. Erste Asset Management GmbH’s holdings in Installed Building Products were worth $14,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of 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 buying an additional 272 shares during the last quarter. Quarry LP grew its holdings in shares of Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after acquiring an additional 286 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Installed Building Products in the third quarter valued at about $111,000. Finally, Principal Securities Inc. raised its holdings in Installed Building Products by 20.0% during the fourth quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after acquiring an additional 186 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IBP shares. The Goldman Sachs Group decreased their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Truist Financial dropped their price objective on 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. DA Davidson cut their price objective on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, Loop Capital cut their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. 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 MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $219.40.

Installed Building Products Stock Down 1.4 %

NYSE IBP opened at $168.95 on Friday. 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 has a market cap of $4.69 billion, a price-to-earnings ratio of 18.77 and a beta of 2.05. The company has a 50 day moving average of $182.45 and a 200-day moving average of $205.98. Installed Building Products, Inc. has a 1-year low of $159.76 and a 1-year high of $281.04.

Installed Building Products Increases Dividend

The company also recently disclosed 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. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.88%. Installed Building Products’s dividend payout ratio is currently 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.