Great Lakes Advisors LLC Sells 41,586 Shares of Installed Building Products, Inc. (NYSE:IBP)

Great Lakes Advisors LLC lowered its stake in Installed Building Products, Inc. (NYSE:IBP) by 43.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 53,670 shares of the construction company’s stock after selling 41,586 shares during the quarter. Great Lakes Advisors LLC owned 0.19% of Installed Building Products worth $9,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC raised its holdings in shares of Installed Building Products by 79.9% during the fourth quarter. AlphaQuest LLC now owns 1,851 shares of the construction company’s stock valued at $324,000 after acquiring an additional 822 shares in the last quarter. Amundi raised its holdings in shares of Installed Building Products by 193.1% during the fourth quarter. Amundi now owns 12,024 shares of the construction company’s stock valued at $2,118,000 after acquiring an additional 7,922 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Installed Building Products by 2.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company’s stock valued at $617,000 after acquiring an additional 93 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Installed Building Products during the fourth quarter valued at approximately $23,776,000. Finally, Dana Investment Advisors Inc. raised its holdings in shares of Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock valued at $1,363,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group decreased their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Loop Capital decreased their target price on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Truist Financial decreased their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Finally, Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $219.40.

Installed Building Products Price Performance

IBP opened at $171.74 on Thursday. Installed Building Products, Inc. has a 12-month low of $159.76 and a 12-month high of $281.04. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 19.08 and a beta of 2.05. The stock has a fifty day simple moving average of $182.54 and a two-hundred day simple moving average of $206.24. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.37 dividend. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is 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.