Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 63.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,243 shares of the construction company's stock after selling 26,863 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Installed Building Products worth $3,754,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB lifted its position in Installed Building Products by 11.6% during the second quarter. Swedbank AB now owns 415,000 shares of the construction company's stock valued at $85,357,000 after buying an additional 43,000 shares during the period. Blue Trust Inc. lifted its position in Installed Building Products by 456.2% during the 2nd quarter. Blue Trust Inc. now owns 3,810 shares of the construction company's stock valued at $784,000 after acquiring an additional 3,125 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company's stock worth $51,107,000 after acquiring an additional 183,696 shares in the last quarter. Summit Global Investments purchased a new stake in Installed Building Products in the second quarter worth about $1,146,000. Finally, Creative Planning increased its stake in shares of Installed Building Products by 39.6% during the third quarter. Creative Planning now owns 7,712 shares of the construction company's stock valued at $1,899,000 after purchasing an additional 2,187 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.
Analysts Set New Price Targets
IBP has been the topic of several recent research reports. Jefferies Financial Group upped their price target on Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Truist Financial lifted their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. DA Davidson cut their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a "neutral" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products has an average rating of "Hold" and an average target price of $253.70.
View Our Latest Report on Installed Building Products
Installed Building Products Stock Performance
NYSE:IBP traded up $5.85 during trading hours on Friday, reaching $217.09. The company had a trading volume of 349,108 shares, compared to its average volume of 354,395. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 24.12 and a beta of 1.95. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm's 50 day moving average price is $230.72 and its 200-day moving average price is $222.99. Installed Building Products, Inc. has a 52 week low of $144.15 and a 52 week high of $281.04.
Installed Building Products Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, December 13th. Installed Building Products's dividend payout ratio (DPR) is presently 15.56%.
About Installed Building Products
(
Free Report)
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.
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![Institutional Ownership by Quarter for Installed Building Products (NYSE:IBP)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=IBP)
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