Vest Financial LLC Acquires 2,208 Shares of Installed Building Products, Inc. (NYSE:IBP)

Vest Financial LLC grew its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,985 shares of the construction company's stock after acquiring an additional 2,208 shares during the quarter. Vest Financial LLC owned 0.06% of Installed Building Products worth $2,741,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. First Trust Advisors LP lifted its position in Installed Building Products by 69.8% in the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company's stock valued at $85,124,000 after acquiring an additional 199,657 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Installed Building Products by 35,416.8% during the 1st quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company's stock valued at $289,870,000 after acquiring an additional 168,584 shares during the period. Norges Bank purchased a new stake in Installed Building Products in the fourth quarter worth about $28,509,000. T. Rowe Price Investment Management Inc. lifted its holdings in Installed Building Products by 87.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company's stock valued at $59,249,000 after purchasing an additional 158,173 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Installed Building Products in the 4th quarter worth $23,776,000. 99.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBP has been the subject of a number of research analyst reports. Benchmark cut their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Loop Capital reduced their price target on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Truist Financial decreased their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Installed Building Products in a report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 target price on the stock. 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, Installed Building Products presently has an average rating of "Hold" and an average target price of $212.45.

Installed Building Products Trading Up 3.7%

IBP stock traded up $6.31 during trading on Tuesday, hitting $174.79. The company had a trading volume of 570,269 shares, compared to its average volume of 343,670. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $281.04. The company has a 50 day simple moving average of $164.17 and a 200-day simple moving average of $178.57. The firm has a market capitalization of $4.83 billion, a P/E ratio of 19.42 and a beta of 1.73. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $681.34 million. During the same quarter in the prior year, the company earned $2.47 earnings per share. Installed Building Products's revenue was down 1.2% on a year-over-year basis. As a group, research analysts forecast that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, June 13th. Installed Building Products's dividend payout ratio is 16.88%.

Installed Building Products Company 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.