By otakuyassine3@gmail.com 
O Shaughnessy Asset Management LLC cut its stake in Installed Building Products, Inc. (NYSE:IBP – Free Report) by 34.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,150 shares of the construction company’s stock after selling 1,666 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Installed Building Products were worth $552,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in IBP. Norges Bank purchased a new position in Installed Building Products in the fourth quarter valued at about $28,509,000. Wellington Management Group LLP purchased a new stake in shares of Installed Building Products during the third quarter worth about $34,635,000. Raymond James Financial Inc. purchased a new stake in shares of Installed Building Products during the fourth quarter worth about $23,776,000. State Street Corp increased its position in shares of Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after acquiring an additional 96,780 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Installed Building Products by 25.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after acquiring an additional 83,205 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.
Installed Building Products Stock Performance
Shares of IBP stock opened at $173.24 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average of $174.01 and a two-hundred day moving average of $198.69. Installed Building Products, Inc. has a 52 week low of $153.85 and a 52 week high of $281.04. The company has a market cap of $4.81 billion, a P/E ratio of 19.25 and a beta of 1.84.
Installed Building Products Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.37 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, March 14th. Installed Building Products’s payout ratio is presently 16.26%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. The Goldman Sachs Group dropped their target price on 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. Truist Financial dropped their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. Benchmark dropped their target price on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. DA Davidson decreased their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $216.09.
Check Out Our Latest Research Report on Installed Building Products
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.
Further Reading
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