Baird Financial Group Inc. Increases Position in Installed Building Products, Inc. (NYSE:IBP)

Baird Financial Group Inc. grew its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,245 shares of the construction company's stock after acquiring an additional 4,296 shares during the quarter. Baird Financial Group Inc. owned about 0.19% of Installed Building Products worth $9,331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System boosted its position in Installed Building Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock worth $1,221,000 after purchasing an additional 56 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock worth $1,363,000 after acquiring an additional 71 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Installed Building Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock valued at $439,000 after buying an additional 79 shares in the last quarter. Blue Trust Inc. boosted its holdings in Installed Building Products by 7.9% in the fourth 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 during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted 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 worth $617,000 after purchasing an additional 93 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBP has been the topic of a number of recent research reports. StockNews.com cut Installed Building Products from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Benchmark decreased their price objective on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Friday. DA Davidson dropped their price target on Installed Building Products from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group reduced their price target on Installed Building Products from $262.00 to $228.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, Truist Financial dropped their price objective on Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a report on Monday, March 3rd. Two equities research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $212.45.

Installed Building Products Trading Up 4.0%

Shares of NYSE IBP traded up $6.46 during trading hours on Monday, hitting $167.42. The company's stock had a trading volume of 524,360 shares, compared to its average volume of 337,012. The business has a 50-day simple moving average of $168.82 and a 200-day simple moving average of $186.41. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 18.60 and a beta of 1.85. Installed Building Products, Inc. has a 12 month low of $151.27 and a 12 month high of $281.04.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The company had revenue of $684.80 million for the quarter, compared to analysts' expectations of $681.34 million. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Installed Building Products's quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.88%. Installed Building Products's dividend payout ratio is presently 16.88%.

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.