Pertento Partners LLP Boosts Stake in Installed Building Products, Inc. (NYSE:IBP)

Pertento Partners LLP increased its stake in Installed Building Products, Inc. (NYSE:IBP) by 18.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,199 shares of the construction company’s stock after purchasing an additional 36,395 shares during the quarter. Installed Building Products accounts for 3.5% of Pertento Partners LLP’s investment portfolio, making the stock its 14th largest position. Pertento Partners LLP’s holdings in Installed Building Products were worth $40,868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IBP. Curio Wealth LLC acquired a new position in Installed Building Products in the 4th quarter valued at $30,000. Advisors Asset Management Inc. raised its position in shares of Installed Building Products by 152.2% in the 3rd 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 grew its position in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after acquiring an additional 272 shares during the period. Quarry LP raised 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 worth $78,000 after purchasing an additional 286 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Installed Building Products in the 3rd quarter valued at about $111,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of IBP opened at $170.96 on Friday. Installed Building Products, Inc. has a 52 week low of $159.77 and a 52 week 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 has a market cap of $4.75 billion, a price-to-earnings ratio of 19.00 and a beta of 2.05. The stock has a 50 day moving average of $180.70 and a 200-day moving average of $202.81.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 14th. Installed Building Products’s dividend payout ratio is 16.26%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IBP. Loop Capital dropped 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 report on Tuesday, March 4th. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial decreased their target price 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. DA Davidson dropped their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $219.40.

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.