Ashton Thomas Private Wealth LLC Increases Position in Installed Building Products, Inc. (NYSE:IBP)

Ashton Thomas Private Wealth LLC raised its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 4.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,425 shares of the construction company’s stock after purchasing an additional 140 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Installed Building Products were worth $843,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC bought a new position in shares of Installed Building Products during the 3rd quarter valued at about $15,287,000. Versor Investments LP purchased a new stake in Installed Building Products in the third quarter worth approximately $641,000. Lisanti Capital Growth LLC bought a new position in Installed Building Products during the third quarter valued at approximately $5,093,000. Atria Investments Inc raised its stake in shares of Installed Building Products by 6.5% during the third quarter. Atria Investments Inc now owns 2,540 shares of the construction company’s stock worth $625,000 after acquiring an additional 156 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in shares of Installed Building Products in the 3rd quarter worth approximately $203,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

IBP opened at $207.73 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The stock has a market capitalization of $5.85 billion, a PE ratio of 23.08 and a beta of 1.95. The stock’s 50 day moving average price is $230.81 and its 200-day moving average price is $224.65. Installed Building Products, Inc. has a 52-week low of $132.33 and a 52-week high of $281.04.

Installed Building Products Dividend Announcement

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

Analyst Upgrades and Downgrades

IBP has been the topic of several recent research reports. Jefferies Financial Group increased their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their price objective 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. DA Davidson lowered their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Truist Financial raised their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products has an average rating of “Hold” and a consensus target price of $252.30.

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.