Aristeia Capital L.L.C. Makes New Investment in Installed Building Products, Inc. (NYSE:IBP)

Aristeia Capital L.L.C. acquired a new stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,521 shares of the construction company's stock, valued at approximately $617,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IBP. Vanguard Group Inc. grew its position in Installed Building Products by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company's stock valued at $462,100,000 after acquiring an additional 16,597 shares in the last quarter. FIL Ltd boosted its stake in shares of Installed Building Products by 14.0% in the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company's stock valued at $182,091,000 after purchasing an additional 127,215 shares during the period. Geode Capital Management LLC boosted its stake in shares of Installed Building Products by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company's stock valued at $111,053,000 after purchasing an additional 10,553 shares during the period. Giverny Capital Inc. grew its holdings in shares of Installed Building Products by 3.6% in the fourth quarter. Giverny Capital Inc. now owns 504,735 shares of the construction company's stock valued at $88,455,000 after purchasing an additional 17,620 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Installed Building Products by 69.8% during the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company's stock worth $85,124,000 after buying an additional 199,657 shares during the period. Hedge funds and other institutional investors own 99.61% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on IBP. Truist Financial dropped their price target on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group lowered their target price on 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. StockNews.com downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Friday, February 28th. DA Davidson decreased their price objective 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. Finally, Benchmark cut 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 note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Installed Building Products has an average rating of "Hold" and an average target price of $216.09.

Installed Building Products Stock Up 2.7 %

IBP stock opened at $171.08 on Friday. The stock has a market cap of $4.72 billion, a P/E ratio of 19.01 and a beta of 1.84. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a twelve month low of $151.27 and a twelve month high of $281.04. The company's 50 day moving average is $169.23 and its two-hundred day moving average is $189.87.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.87%. Installed Building Products's payout ratio is 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.

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