Bank of Montreal Can Grows Holdings in Installed Building Products, Inc. (NYSE:IBP)

Bank of Montreal Can boosted its position in Installed Building Products, Inc. (NYSE:IBP) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,398 shares of the construction company’s stock after buying an additional 496 shares during the quarter. Bank of Montreal Can’s holdings in Installed Building Products were worth $771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in Installed Building Products by 7.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 93,603 shares of the construction company’s stock worth $16,404,000 after acquiring an additional 6,804 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Installed Building Products by 4.1% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 132,598 shares of the construction company’s stock worth $23,238,000 after purchasing an additional 5,213 shares in the last quarter. Trexquant Investment LP bought a new stake in Installed Building Products in the fourth quarter valued at about $2,742,000. Headlands Technologies LLC raised its stake in Installed Building Products by 819.0% during the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company’s stock valued at $127,000 after buying an additional 647 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Installed Building Products by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after buying an additional 10,553 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

IBP opened at $158.33 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The firm has a market cap of $4.37 billion, a PE ratio of 17.59 and a beta of 1.84. The business has a fifty day simple moving average of $170.63 and a 200-day simple moving average of $194.74. Installed Building Products, Inc. has a fifty-two week low of $153.40 and a fifty-two week high of $281.04.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.37 dividend. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.93%. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Analyst Ratings Changes

Several research firms recently issued reports on IBP. Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a “hold” rating and a $183.00 price target on the stock. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Loop Capital lowered 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 research report on Tuesday, March 4th. Truist Financial decreased their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research note on Monday, March 3rd. Finally, DA Davidson dropped their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus price target of $216.09.

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.