Xponance Inc. Grows Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Xponance Inc. grew its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,735 shares of the construction company’s stock after acquiring an additional 163 shares during the period. Xponance Inc.’s holdings in Installed Building Products were worth $304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Curio Wealth LLC acquired a new position in Installed Building Products during the fourth quarter worth $30,000. Advisors Asset Management Inc. raised its stake in shares of Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after buying an additional 272 shares in the last quarter. Quarry LP grew its stake in Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after acquiring an additional 286 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Installed Building Products during the 3rd quarter valued at about $111,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Trading Down 2.2 %

NYSE IBP opened at $172.52 on Friday. The company has a market cap of $4.79 billion, a P/E ratio of 19.17 and a beta of 2.05. Installed Building Products, Inc. has a 12 month low of $159.77 and a 12 month 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 company has a 50-day moving average of $181.21 and a 200-day moving average of $203.04.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Analyst Upgrades and Downgrades

IBP has been the topic of several research reports. Benchmark lowered their price target on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $238.00 to $206.00 in a report on Monday, December 16th. Loop Capital dropped their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group dropped their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $219.40.

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.