Meeder Asset Management Inc. Sells 4,057 Shares of Installed Building Products, Inc. (NYSE:IBP)

Meeder Asset Management Inc. lessened its holdings in Installed Building Products, Inc. (NYSE:IBP) by 84.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 766 shares of the construction company’s stock after selling 4,057 shares during the period. Meeder Asset Management Inc.’s holdings in Installed Building Products were worth $134,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in 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 valued at $462,100,000 after buying an additional 16,597 shares in the last quarter. State Street Corp raised its stake in shares of Installed Building Products by 8.4% in the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after acquiring an additional 96,780 shares in the last quarter. FMR LLC lifted its holdings in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after purchasing an additional 367,628 shares during the last quarter. Geode Capital Management LLC boosted its position in Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in 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 valued at $72,268,000 after purchasing an additional 83,205 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Trading Up 0.7 %

Shares of IBP opened at $171.79 on Tuesday. The stock’s 50-day moving average price is $180.21 and its 200 day moving average price is $202.48. 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 firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 19.09 and a beta of 2.05. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. Installed Building Products’s dividend payout ratio is presently 16.26%.

Analyst Ratings Changes

A number of analysts have recently weighed in on IBP shares. The Goldman Sachs Group reduced their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Benchmark cut 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 report on Monday, March 3rd. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Truist Financial cut their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Finally, DA Davidson lowered their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $219.40.

About Installed Building Products

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.