KLP Kapitalforvaltning AS Takes Position in Installed Building Products, Inc. (NYSE:IBP)

KLP Kapitalforvaltning AS bought a new position in Installed Building Products, Inc. (NYSE:IBP) during the 4th quarter, Holdings Channel reports. The fund bought 5,000 shares of the construction company’s stock, valued at approximately $876,000.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after acquiring an additional 367,628 shares during the last quarter. Townsquare Capital LLC bought a new stake in Installed Building Products in the third quarter worth $247,000. Glenmede Trust Co. NA purchased a new stake in Installed Building Products during the third quarter valued at $627,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Installed Building Products by 8.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,772 shares of the construction company’s stock valued at $2,653,000 after purchasing an additional 805 shares during the last quarter. Finally, Walleye Capital LLC grew its stake in shares of Installed Building Products by 161.7% in the 3rd quarter. Walleye Capital LLC now owns 1,708 shares of the construction company’s stock worth $421,000 after buying an additional 4,478 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Up 0.7 %

NYSE:IBP opened at $171.79 on Tuesday. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 19.09 and a beta of 2.05. Installed Building Products, Inc. has a twelve month low of $159.77 and a twelve month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock has a fifty day simple moving average of $180.21 and a 200-day simple moving average of $202.48.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.37 per share. 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 yield of 0.86%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IBP. DA Davidson decreased their target price on shares of 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. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Benchmark dropped their target price on Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Loop Capital decreased their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Truist Financial lowered their price target on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $219.40.

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.