First Eagle Investment Management LLC Purchases 11,300 Shares of Installed Building Products, Inc. (NYSE:IBP)

First Eagle Investment Management LLC grew its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,528 shares of the construction company’s stock after purchasing an additional 11,300 shares during the quarter. First Eagle Investment Management LLC owned about 0.21% of Installed Building Products worth $10,432,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock worth $64,000 after purchasing an additional 272 shares during the last quarter. Quarry LP raised its holdings in Installed Building Products by 953.3% during the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after purchasing an additional 286 shares during the last quarter. Centaurus Financial Inc. bought a new position in Installed Building Products during the 3rd quarter worth approximately $111,000. Finally, Principal Securities Inc. raised its holdings in Installed Building Products by 20.0% during the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock worth $196,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

NYSE IBP opened at $171.64 on Friday. The company has a fifty day simple moving average of $182.38 and a 200 day simple moving average of $205.59. Installed Building Products, Inc. has a 12-month low of $159.77 and a 12-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 company has a market cap of $4.76 billion, a P/E ratio of 19.07 and a beta of 2.05.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.37 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.86%. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

Wall Street Analysts Forecast Growth

IBP has been the subject of several research analyst reports. Benchmark lowered their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Truist Financial lowered their price objective on shares of 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. 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 note on Tuesday, March 4th. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Installed Building Products currently has an average rating of “Hold” and an average price target 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.