Installed Building Products, Inc. (NYSE:IBP) Holdings Raised by Great Lakes Advisors LLC

Great Lakes Advisors LLC lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,888 shares of the construction company’s stock after purchasing an additional 2,761 shares during the quarter. Great Lakes Advisors LLC’s holdings in Installed Building Products were worth $14,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ameritas Investment Partners Inc. raised its stake in shares of Installed Building Products by 5.1% during the first quarter. Ameritas Investment Partners Inc. now owns 1,912 shares of the construction company’s stock valued at $218,000 after purchasing an additional 93 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Installed Building Products by 1.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,218 shares of the construction company’s stock worth $1,152,000 after acquiring an additional 106 shares in the last quarter. Arizona State Retirement System raised its position in Installed Building Products by 2.2% in the first quarter. Arizona State Retirement System now owns 7,044 shares of the construction company’s stock worth $803,000 after acquiring an additional 150 shares in the last quarter. State of Wyoming raised its position in Installed Building Products by 24.4% in the fourth quarter. State of Wyoming now owns 913 shares of the construction company’s stock worth $78,000 after acquiring an additional 179 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in Installed Building Products by 4.3% in the fourth quarter. Captrust Financial Advisors now owns 4,693 shares of the construction company’s stock worth $402,000 after acquiring an additional 195 shares in the last quarter. 82.62% of the stock is currently owned by institutional investors.

Installed Building Products Trading Up 3.0 %

Shares of IBP opened at $142.81 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.34. Installed Building Products, Inc. has a 1-year low of $77.12 and a 1-year high of $158.18. The business’s 50-day moving average price is $122.19 and its 200 day moving average price is $129.03. The stock has a market capitalization of $4.06 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.83 and a beta of 1.79.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 31st. Shareholders of record on Friday, December 15th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.32 annualized dividend and a yield of 0.92%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Installed Building Products from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $146.00 to $178.00 in a research report on Thursday. Truist Financial dropped their price target on shares of Installed Building Products from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 9th. Royal Bank of Canada boosted their price target on shares of Installed Building Products from $111.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Evercore ISI raised Installed Building Products from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $150.00 to $165.00 in a research note on Thursday, November 9th. Finally, StockNews.com started coverage on Installed Building Products in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Moderate Buy” and an average target price of $156.33.

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.