Polen Capital Management LLC Decreases Stake in Installed Building Products, Inc. (NYSE:IBP)

Polen Capital Management LLC reduced its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,752 shares of the construction company's stock after selling 2,211 shares during the period. Polen Capital Management LLC owned 0.06% of Installed Building Products worth $2,760,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IBP. Teachers Retirement System of The State of Kentucky lifted its holdings in Installed Building Products by 121.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company's stock worth $3,963,000 after buying an additional 8,815 shares during the period. Summit Partners Public Asset Management LLC bought a new position in shares of Installed Building Products during the third quarter valued at approximately $54,499,000. Natixis Advisors LLC lifted its stake in Installed Building Products by 6.4% in the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company's stock worth $18,286,000 after acquiring an additional 4,451 shares during the period. Citigroup Inc. boosted its holdings in Installed Building Products by 54.0% in the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company's stock valued at $11,633,000 after acquiring an additional 16,569 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in 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 valued at $153,452,000 after purchasing an additional 23,179 shares during the period. 99.61% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

IBP has been the topic of a number of research reports. DA Davidson cut their target price on shares of Installed Building Products from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Truist Financial reduced their target price on Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a report on Monday, March 3rd. Seaport Res Ptn lowered Installed Building Products from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 13th. StockNews.com cut Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Loop Capital lowered their price objective on Installed Building Products from $230.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $219.40.

Installed Building Products Stock Down 0.1 %

Shares of NYSE:IBP traded down $0.09 on Monday, hitting $171.12. 325,281 shares of the company traded hands, compared to its average volume of 307,218. The company has a market cap of $4.75 billion, a PE ratio of 19.01 and a beta of 2.05. The stock has a 50 day simple moving average of $182.38 and a 200-day simple moving average of $205.35. Installed Building Products, Inc. has a 52 week low of $159.77 and a 52 week high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

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. The ex-dividend date of this dividend is Friday, March 14th. This is a boost 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 payout ratio is 16.26%.

Installed Building Products Profile

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.