Loomis Sayles & Co. L P Has $29.75 Million Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Loomis Sayles & Co. L P trimmed its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 169,778 shares of the construction company's stock after selling 4,958 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.60% of Installed Building Products worth $29,754,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IBP. JPMorgan Chase & Co. boosted its position in Installed Building Products by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock worth $26,949,000 after purchasing an additional 81,455 shares during the period. Pier Capital LLC lifted its stake in shares of Installed Building Products by 3.0% during the 4th quarter. Pier Capital LLC now owns 37,225 shares of the construction company's stock worth $6,524,000 after buying an additional 1,090 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in shares of Installed Building Products by 19.8% during the 4th quarter. Zions Bancorporation N.A. now owns 13,920 shares of the construction company's stock worth $2,439,000 after buying an additional 2,297 shares during the period. Vanguard Group Inc. lifted its position 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 worth $462,100,000 after acquiring an additional 16,597 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Installed Building Products in the fourth quarter valued at approximately $876,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Installed Building Products Price Performance

NYSE IBP traded up $1.15 on Monday, hitting $171.78. 177,004 shares of the company's stock were exchanged, compared to its average volume of 381,795. The stock has a 50-day moving average of $180.70 and a 200-day moving average of $202.76. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 19.09 and a beta of 2.05. Installed Building Products, Inc. has a 52 week low of $159.76 and a 52 week high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Installed Building Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Installed Building Products's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.86%. Installed Building Products's dividend payout ratio (DPR) is 16.26%.

Analyst Ratings Changes

A number of research analysts have commented on IBP shares. Loop Capital decreased their price objective on Installed Building Products from $230.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Benchmark lowered their price target on shares of Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Seaport Res Ptn downgraded shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a report on Friday, December 13th. Evercore ISI lowered shares of Installed Building Products from an "outperform" rating to an "underperform" rating and decreased their target price for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Finally, Truist Financial dropped their price target 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.