First Trust Advisors LP Increases Stock Position in Installed Building Products, Inc. (NYSE:IBP)

First Trust Advisors LP lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 69.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 485,727 shares of the construction company's stock after acquiring an additional 199,657 shares during the quarter. First Trust Advisors LP owned approximately 1.73% of Installed Building Products worth $85,124,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IBP. Arizona State Retirement System lifted its holdings in Installed Building Products by 0.8% in the 4th 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. lifted its holdings in Installed Building Products by 0.9% in the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock worth $1,363,000 after purchasing an additional 71 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Installed Building Products by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock worth $439,000 after purchasing an additional 79 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Installed Building Products by 7.9% during the 4th quarter. Blue Trust Inc. now owns 1,257 shares of the construction company's stock worth $220,000 after acquiring an additional 92 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in shares of Installed Building Products by 2.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company's stock worth $617,000 after acquiring an additional 93 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IBP shares. DA Davidson decreased their price objective 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. Truist Financial decreased their price objective on Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a report on Monday, March 3rd. StockNews.com cut Installed Building Products from a "buy" rating to a "hold" rating in a report on Friday, February 28th. The Goldman Sachs Group decreased their price objective on Installed Building Products from $262.00 to $228.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Finally, Benchmark lowered their price target on Installed Building Products from $250.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products has an average rating of "Hold" and an average price target of $216.09.

Installed Building Products Trading Down 1.0 %

Installed Building Products stock traded down $1.78 during trading hours on Friday, hitting $168.49. The company had a trading volume of 260,483 shares, compared to its average volume of 334,651. The firm has a market cap of $4.65 billion, a P/E ratio of 18.72 and a beta of 1.84. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a 1 year low of $151.27 and a 1 year high of $281.04. The company has a 50-day moving average price of $169.32 and a two-hundred day moving average price of $191.82.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.88%. This is a boost from Installed Building Products's previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. 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.