Pertento Partners LLP Raises Stake in Installed Building Products, Inc. (NYSE:IBP)

Pertento Partners LLP lifted its holdings in Installed Building Products, Inc. (NYSE:IBP) by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 233,199 shares of the construction company’s stock after acquiring an additional 36,395 shares during the quarter. Installed Building Products accounts for 3.5% of Pertento Partners LLP’s holdings, making the stock its 14th biggest position. Pertento Partners LLP owned approximately 0.83% of Installed Building Products worth $40,868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBP. Orion Portfolio Solutions LLC grew its holdings in Installed Building Products by 3.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 3,992 shares of the construction company’s stock valued at $700,000 after purchasing an additional 146 shares during the period. Premier Fund Managers Ltd boosted its holdings in Installed Building Products by 8.4% in the 4th quarter. Premier Fund Managers Ltd now owns 86,842 shares of the construction company’s stock worth $15,161,000 after buying an additional 6,734 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Installed Building Products by 8.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,397 shares of the construction company’s stock worth $595,000 after buying an additional 257 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Installed Building Products in the fourth quarter valued at approximately $251,000. Finally, Norges Bank acquired a new position in Installed Building Products in the 4th quarter valued at $28,509,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Stock Down 0.8 %

Shares of NYSE IBP opened at $170.96 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products, Inc. has a 1 year low of $159.77 and a 1 year high of $281.04. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 19.00 and a beta of 2.05. The business has a 50-day moving average of $180.70 and a two-hundred day moving average of $202.81.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.87%. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Analysts Set New Price Targets

A number of analysts have commented on IBP shares. Loop Capital cut their price objective on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. The Goldman Sachs Group decreased their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Truist Financial cut their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six 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 a consensus rating of “Hold” and an average price target 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.