Installed Building Products, Inc. (NYSE:IBP) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,341 shares of the construction company’s stock after purchasing an additional 441 shares during the period. Cetera Investment Advisers’ holdings in Installed Building Products were worth $936,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IBP. Commonwealth Equity Services LLC increased its position in shares of Installed Building Products by 8.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company’s stock worth $923,000 after acquiring an additional 405 shares during the period. Principal Financial Group Inc. raised its holdings in Installed Building Products by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company’s stock worth $22,234,000 after purchasing an additional 4,467 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Installed Building Products by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company’s stock worth $26,949,000 after purchasing an additional 81,455 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its holdings in Installed Building Products by 28.3% in the fourth quarter. Moody Aldrich Partners LLC now owns 20,729 shares of the construction company’s stock valued at $3,633,000 after buying an additional 4,568 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IBP shares. Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Loop Capital decreased their target price on shares of Installed Building Products from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Installed Building Products in a report on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price target on the stock. DA Davidson decreased their price target on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Truist Financial reduced their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $212.45.

Installed Building Products Trading Up 0.9%

Shares of Installed Building Products stock opened at $156.73 on Friday. The firm has a 50-day moving average of $166.59 and a 200-day moving average of $182.69. The stock has a market cap of $4.33 billion, a PE ratio of 17.41 and a beta of 1.85. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The firm had revenue of $684.80 million during the quarter, compared to the consensus estimate of $681.34 million. During the same period in the prior year, the business earned $2.47 earnings per share. Installed Building Products’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 13th. Installed Building Products’s payout ratio is currently 16.88%.

Installed Building Products Company 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.