Artisan Partners Limited Partnership Cuts Position in Installed Building Products, Inc. (NYSE:IBP)

Artisan Partners Limited Partnership lowered its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 164,012 shares of the construction company’s stock after selling 6,045 shares during the period. Artisan Partners Limited Partnership’s holdings in Installed Building Products were worth $28,743,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new position in Installed Building Products during the third quarter valued at $54,499,000. Wellington Management Group LLP acquired a new stake in shares of Installed Building Products in the third quarter valued at 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. Finally, State Street Corp raised its position in shares of Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after purchasing an additional 96,780 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Price Performance

Shares of IBP stock opened at $170.96 on Friday. 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 has a market capitalization of $4.75 billion, a PE ratio of 19.00 and a beta of 2.05. The firm’s 50-day moving average is $180.70 and its two-hundred day moving average is $202.81. Installed Building Products, Inc. has a 12 month low of $159.77 and a 12 month high of $281.04.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s payout ratio is presently 16.26%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IBP shares. Truist Financial lowered their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, March 3rd. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Benchmark dropped 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 report on Monday, March 3rd. Finally, Loop Capital decreased their price target on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and an average price target of $219.40.

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.