Royce & Associates LP Cuts Stake in Installed Building Products, Inc. (NYSE:IBP)

Royce & Associates LP reduced its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 16.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,833 shares of the construction company's stock after selling 27,595 shares during the quarter. Royce & Associates LP owned about 0.48% of Installed Building Products worth $33,452,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Installed Building Products in the 1st quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in shares of Installed Building Products in the third quarter worth about $29,000. GHP Investment Advisors Inc. increased its stake in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock worth $30,000 after buying an additional 78 shares during the period. CWM LLC increased its stake in Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company's stock worth $52,000 after buying an additional 62 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Installed Building Products during the 1st quarter valued at about $68,000. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IBP. DA Davidson cut their price target on Installed Building Products from $275.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Truist Financial increased 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. Stephens reaffirmed an "equal weight" rating and issued a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. Evercore ISI increased their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, StockNews.com lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. One 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 company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $252.30.

Installed Building Products Price Performance

Shares of NYSE IBP traded down $8.10 during midday trading on Friday, hitting $199.88. The stock had a trading volume of 354,601 shares, compared to its average volume of 294,969. 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, Inc. has a 1 year low of $138.37 and a 1 year high of $281.04. The company has a market capitalization of $5.62 billion, a PE ratio of 23.11 and a beta of 1.95. The stock has a 50 day simple moving average of $230.81 and a 200-day simple moving average of $224.65.

Installed Building Products Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.70%. Installed Building Products's payout ratio is 15.56%.

Installed Building Products Company 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.