Installed Building Products, Inc. (NYSE:IBP) Shares Bought by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its position in Installed Building Products, Inc. (NYSE:IBP) by 48.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,809 shares of the construction company’s stock after acquiring an additional 18,466 shares during the period. Eagle Asset Management Inc. owned approximately 0.20% of Installed Building Products worth $13,990,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IBP. Swedbank AB increased its stake in shares of Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after purchasing an additional 43,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Installed Building Products by 6.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock worth $81,063,000 after buying an additional 20,155 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Installed Building Products by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock worth $68,065,000 after acquiring an additional 21,942 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Installed Building Products by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock valued at $46,572,000 after acquiring an additional 4,943 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after acquiring an additional 183,696 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Up 2.8 %

Shares of NYSE:IBP opened at $217.09 on Friday. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 24.12 and a beta of 1.95. The company has a 50 day moving average of $230.72 and a two-hundred day moving average of $223.09. Installed Building Products, Inc. has a 52-week low of $144.15 and a 52-week high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

Analysts Set New Price Targets

A number of research firms have issued reports on IBP. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Stephens restated an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. DA Davidson cut their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Truist Financial raised their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $253.70.

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.