By otakuyassine3@gmail.com 
Corebridge Financial Inc. trimmed its position in Installed Building Products, Inc. (NYSE:IBP – Free Report) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,734 shares of the construction company’s stock after selling 996 shares during the quarter. Corebridge Financial Inc.’s holdings in Installed Building Products were worth $2,232,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of IBP. Vanguard Group Inc. grew its stake in shares of Installed Building Products by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after purchasing an additional 16,597 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Installed Building Products in the 4th quarter valued at approximately $876,000. Quantbot Technologies LP grew its stake in shares of Installed Building Products by 178.7% during the 4th quarter. Quantbot Technologies LP now owns 7,924 shares of the construction company’s stock worth $1,389,000 after acquiring an additional 5,081 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Installed Building Products in the fourth quarter valued at approximately $223,000. Finally, Royal London Asset Management Ltd. lifted its position in shares of Installed Building Products by 21.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 118,867 shares of the construction company’s stock worth $20,831,000 after purchasing an additional 20,700 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently commented on IBP. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on Installed Building Products in a research report on Tuesday. They set a “hold” rating and a $183.00 price target for the company. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Benchmark decreased their target price 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. Finally, The Goldman Sachs Group dropped their price target on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $216.09.
Check Out Our Latest Analysis on IBP
Installed Building Products Price Performance
Shares of IBP opened at $172.35 on Wednesday. The firm has a market capitalization of $4.78 billion, a PE ratio of 19.15 and a beta of 2.05. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company’s 50-day moving average is $179.63 and its 200-day moving average is $202.12. Installed Building Products, Inc. has a fifty-two week low of $159.77 and a fifty-two week high of $281.04.
Installed Building Products Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, March 14th. Installed Building Products’s dividend payout ratio is currently 16.26%.
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.
Further Reading
Receive News & Ratings for Installed Building Products Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Installed Building Products and related companies with MarketBeat.com’s FREE daily email newsletter.