Quest Partners LLC Sells 3,970 Shares of Installed Building Products, Inc. (NYSE:IBP)

Quest Partners LLC lessened its holdings in Installed Building Products, Inc. (NYSE:IBP) by 79.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,029 shares of the construction company’s stock after selling 3,970 shares during the quarter. Quest Partners LLC’s holdings in Installed Building Products were worth $253,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IBP. Prudent Man Advisors LLC bought a new stake in Installed Building Products during the 3rd quarter worth about $203,000. Thrivent Financial for Lutherans raised its holdings in Installed Building Products by 379.5% during the third quarter. Thrivent Financial for Lutherans now owns 93,439 shares of the construction company’s stock worth $23,012,000 after acquiring an additional 73,952 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Installed Building Products by 6.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock worth $81,063,000 after acquiring an additional 20,155 shares in the last quarter. Natixis Advisors LLC boosted its position in Installed Building Products by 6.4% during the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after purchasing an additional 4,451 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Installed Building Products in the third quarter valued at approximately $203,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IBP shares. JPMorgan Chase & Co. increased their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. DA Davidson cut their price target on shares of 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. Stephens restated an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Evercore ISI raised their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group boosted their price target on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and a consensus price target of $253.70.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $225.42 on Wednesday. The firm has a market cap of $6.34 billion, a P/E ratio of 25.05 and a beta of 1.95. The business’s 50 day moving average is $230.91 and its 200-day moving average is $222.92. 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, Inc. has a 1-year low of $145.13 and a 1-year high of $281.04.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.62%. Installed Building Products’s payout ratio is presently 15.56%.

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.