Bank of America Corp DE Has $9.99 Million Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Bank of America Corp DE lowered its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 37.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,004 shares of the construction company's stock after selling 34,523 shares during the period. Bank of America Corp DE owned 0.20% of Installed Building Products worth $9,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBP. Benjamin Edwards Inc. raised its position in shares of Installed Building Products by 7.8% in the fourth quarter. Benjamin Edwards Inc. now owns 3,111 shares of the construction company's stock valued at $546,000 after purchasing an additional 226 shares during the period. Aristeia Capital L.L.C. bought a new position in Installed Building Products in the 4th quarter valued at about $617,000. Emerald Mutual Fund Advisers Trust lifted its position in Installed Building Products by 14.5% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 25,415 shares of the construction company's stock worth $4,454,000 after acquiring an additional 3,228 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Installed Building Products by 7.3% during the fourth quarter. Northern Trust Corp now owns 278,070 shares of the construction company's stock worth $48,732,000 after acquiring an additional 18,907 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in shares of Installed Building Products in the fourth quarter valued at approximately $1,621,000. Institutional investors own 99.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen cut Installed Building Products from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Truist Financial reduced their target price on shares of 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. Benchmark lowered their price target on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Installed Building Products in a report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price objective for the company. Finally, DA Davidson lowered their price objective 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of "Hold" and a consensus target price of $212.45.

Installed Building Products Price Performance

NYSE:IBP traded up $6.44 on Tuesday, hitting $162.98. The company had a trading volume of 719,028 shares, compared to its average volume of 339,914. Installed Building Products, Inc. has a 52 week low of $150.83 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 stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 18.11 and a beta of 1.85. The firm has a 50 day moving average of $166.25 and a two-hundred day moving average of $181.76.

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

Installed Building Products Dividend Announcement

The company also recently declared 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, June 13th. Installed Building Products's payout ratio is 16.88%.

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.