Verdence Capital Advisors LLC Invests $203,000 in Installed Building Products, Inc. (NYSE:IBP)

Verdence Capital Advisors LLC purchased a new position in shares of Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 823 shares of the construction company’s stock, valued at approximately $203,000.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Installed Building Products during the first quarter worth $29,000. V Square Quantitative Management LLC acquired a new stake in Installed Building Products in the 3rd quarter worth about $29,000. GHP Investment Advisors Inc. boosted its holdings in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. CWM LLC boosted its holdings in Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after purchasing an additional 62 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Installed Building Products during the 1st quarter worth approximately $68,000. 99.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IBP has been the subject of several recent research reports. Truist Financial boosted their price target on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group upped their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Stephens restated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Evercore ISI raised their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and a consensus target price of $252.30.

Installed Building Products Price Performance

Shares of IBP opened at $207.65 on Wednesday. The business has a 50-day simple moving average of $230.84 and a two-hundred day simple moving average of $224.77. Installed Building Products, Inc. has a 12-month low of $124.01 and a 12-month high of $281.04. The stock has a market cap of $5.86 billion, a PE ratio of 23.07 and a beta of 1.95. The company has a quick ratio of 2.59, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 annualized dividend and a yield of 0.67%. Installed Building Products’s dividend payout ratio is presently 15.56%.

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.