Installed Building Products (NYSE:IBP) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP – Get Rating) from a buy rating to a strong-buy rating in a research report released on Monday.

Several other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Installed Building Products from a hold rating to a buy rating and upped their target price for the company from $90.00 to $124.00 in a research report on Tuesday, January 10th. Royal Bank of Canada upped their target price on shares of Installed Building Products from $79.00 to $85.00 and gave the company an underperform rating in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $102.30.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $109.44 on Monday. The firm has a fifty day moving average of $107.66 and a two-hundred day moving average of $92.92. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 14.10 and a beta of 1.69. Installed Building Products has a 52 week low of $69.44 and a 52 week high of $121.60. The company has a debt-to-equity ratio of 1.70, a quick ratio of 2.16 and a current ratio of 2.70.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a $1.23 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.32. This represents a $4.92 dividend on an annualized basis and a yield of 4.50%. Installed Building Products’s dividend payout ratio is presently 16.24%.

Insider Buying and Selling

In related news, COO Jay P. Elliott sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $113.77, for a total value of $511,965.00. Following the completion of the transaction, the chief operating officer now directly owns 32,490 shares of the company’s stock, valued at approximately $3,696,387.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Jay P. Elliott sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $113.77, for a total value of $511,965.00. Following the completion of the transaction, the chief operating officer now directly owns 32,490 shares of the company’s stock, valued at approximately $3,696,387.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Thomas Miller sold 34,408 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $115.79, for a total transaction of $3,984,102.32. Following the completion of the transaction, the chief financial officer now directly owns 46,320 shares of the company’s stock, valued at $5,363,392.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,826 shares of company stock valued at $13,478,546. Company insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently modified their holdings of IBP. Vanguard Group Inc. boosted its stake in shares of Installed Building Products by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock worth $239,629,000 after buying an additional 329,661 shares during the last quarter. Norges Bank acquired a new position in shares of Installed Building Products during the 4th quarter worth about $16,658,000. BlackRock Inc. boosted its stake in shares of Installed Building Products by 4.3% during the 3rd quarter. BlackRock Inc. now owns 3,888,007 shares of the construction company’s stock worth $314,889,000 after buying an additional 160,517 shares during the last quarter. Royal London Asset Management Ltd. acquired a new position in shares of Installed Building Products during the 2nd quarter worth about $11,274,000. Finally, Premier Fund Managers Ltd boosted its stake in shares of Installed Building Products by 7,558.2% during the 4th quarter. Premier Fund Managers Ltd now owns 128,887 shares of the construction company’s stock worth $8,020,000 after buying an additional 127,204 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

About Installed Building Products

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Installed Building Products, Inc engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.