Northern Trust Corp Has $48.73 Million Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Northern Trust Corp increased its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 7.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 278,070 shares of the construction company's stock after acquiring an additional 18,907 shares during the quarter. Northern Trust Corp owned approximately 0.99% of Installed Building Products worth $48,732,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Arizona State Retirement System grew its holdings in shares of 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 acquiring an additional 56 shares during the last quarter. Dana Investment Advisors Inc. grew its holdings in shares of 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 acquiring an additional 71 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of 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 acquiring an additional 79 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Installed Building Products by 7.9% during the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company's stock valued at $220,000 after buying an additional 92 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its holdings in shares of Installed Building Products by 2.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company's stock valued at $617,000 after buying an additional 93 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

Shares of NYSE IBP traded up $5.89 during trading hours on Monday, hitting $166.85. 308,683 shares of the company's stock were exchanged, compared to its average volume of 336,203. Installed Building Products, Inc. has a 1-year low of $151.27 and a 1-year high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 18.52 and a beta of 1.85. The company's 50-day moving average price is $168.82 and its 200-day moving average price is $186.41.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 earnings per share 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 business had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same period in the prior year, the firm posted $2.47 EPS. Installed Building Products's revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 0.89%. Installed Building Products's dividend payout ratio is presently 16.88%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IBP. The Goldman Sachs Group lowered their price target 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. Loop Capital lowered their price target on Installed Building Products from $230.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Benchmark lowered their price target on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a report on Friday. DA Davidson lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Installed Building Products in a research note 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 given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $213.82.

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.