Polen Capital Management LLC cut its stake in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,752 shares of the construction company's stock after selling 2,211 shares during the quarter. Polen Capital Management LLC owned 0.06% of Installed Building Products worth $2,760,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Arizona State Retirement System grew its holdings in Installed Building Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock valued at $1,221,000 after purchasing an additional 56 shares during the period. Dana Investment Advisors Inc. grew its holdings in shares of Installed Building Products by 0.9% in the 4th quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock valued at $1,363,000 after buying an additional 71 shares during the period. Blue Trust Inc. increased its position in shares of Installed Building Products by 7.9% in the 4th quarter. Blue Trust Inc. now owns 1,257 shares of the construction company's stock valued at $220,000 after buying an additional 92 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in Installed Building Products by 2.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company's stock worth $617,000 after buying an additional 93 shares during the period. Finally, Sanctuary Advisors LLC lifted its holdings in Installed Building Products by 8.9% during the fourth quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company's stock worth $274,000 after acquiring an additional 128 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.
Installed Building Products Price Performance
NYSE:IBP traded up $0.79 during trading hours on Tuesday, reaching $171.78. 163,350 shares of the company were exchanged, compared to its average volume of 308,012. The business has a 50 day moving average of $182.29 and a 200 day moving average of $205.00. Installed Building Products, Inc. has a 1-year low of $159.77 and a 1-year high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The company has a market capitalization of $4.77 billion, a P/E ratio of 19.10 and a beta of 2.05.
Installed Building Products Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.37 dividend. 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%. The ex-dividend date is Friday, March 14th. Installed Building Products's dividend payout ratio (DPR) is currently 16.26%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on IBP shares. Truist Financial cut their price target on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a research note on Monday, March 3rd. StockNews.com lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Loop Capital reduced their price target on Installed Building Products from $230.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Finally, Evercore ISI lowered 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 report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Installed Building Products currently has an average rating of "Hold" and an average target price of $219.40.
View Our Latest Analysis on Installed Building Products
Installed Building Products Profile
(
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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