Prudential Financial Inc. Reduces Holdings in Installed Building Products, Inc. (NYSE:IBP)

Prudential Financial Inc. lowered its position in Installed Building Products, Inc. (NYSE:IBP) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,612 shares of the construction company’s stock after selling 514 shares during the quarter. Prudential Financial Inc.’s holdings in Installed Building Products were worth $4,138,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Installed Building Products by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after purchasing an additional 16,597 shares during the period. State Street Corp raised its holdings in shares of Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares during the period. Geode Capital Management LLC lifted its stake in shares of Installed Building Products by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after acquiring an additional 23,179 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Installed Building Products by 25.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock valued at $72,268,000 after acquiring an additional 83,205 shares during the period. Finally, Van Berkom & Associates Inc. grew its position in Installed Building Products by 7.5% in the 4th quarter. Van Berkom & Associates Inc. now owns 373,458 shares of the construction company’s stock valued at $65,449,000 after acquiring an additional 25,971 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 0.5 %

Shares of NYSE IBP opened at $172.35 on Wednesday. Installed Building Products, Inc. has a 1-year low of $159.77 and a 1-year high of $281.04. The business has a fifty day moving average price of $179.63 and a 200 day moving average price of $202.12. The stock has a market capitalization of $4.78 billion, a P/E ratio of 19.15 and a beta of 2.05. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend 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 issued reports on the stock. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Truist Financial lowered their price objective on shares of 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. Loop Capital reduced their target price on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Benchmark lowered their price target on 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, Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $216.09.

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.