Kingsview Wealth Management LLC Cuts Holdings in Installed Building Products, Inc. (NYSE:IBP)

Kingsview Wealth Management LLC lessened its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 79.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,178 shares of the construction company's stock after selling 8,342 shares during the quarter. Kingsview Wealth Management LLC's holdings in Installed Building Products were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in Installed Building Products during the third quarter valued at about $29,000. GHP Investment Advisors Inc. boosted its stake in Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. CWM LLC grew its position in shares of Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company's stock valued at $52,000 after acquiring an additional 62 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company's stock worth $57,000 after purchasing an additional 140 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Installed Building Products by 41.7% in the 3rd quarter. GAMMA Investing LLC now owns 649 shares of the construction company's stock worth $160,000 after purchasing an additional 191 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IBP. DA Davidson decreased their target price on Installed Building Products from $275.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Stephens reissued an "equal weight" rating and issued a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. StockNews.com downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating in a report on Tuesday. Jefferies Financial Group increased their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Finally, Truist Financial boosted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $253.70.

Installed Building Products Price Performance

NYSE IBP traded up $0.12 on Thursday, hitting $225.53. The stock had a trading volume of 172,378 shares, compared to its average volume of 294,793. The firm has a 50-day moving average of $230.03 and a 200-day moving average of $222.90. The company has a market capitalization of $6.35 billion, a price-to-earnings ratio of 25.06 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a 52-week low of $145.75 and a 52-week high of $281.04.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products's dividend payout ratio is 15.56%.

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.