Great Lakes Advisors LLC Cuts Stake in Installed Building Products, Inc. (NYSE:IBP)

Great Lakes Advisors LLC cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 43.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,670 shares of the construction company’s stock after selling 41,586 shares during the period. Great Lakes Advisors LLC’s holdings in Installed Building Products were worth $9,406,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its position in shares of Installed Building Products by 121.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after buying an additional 8,815 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in shares of Installed Building Products during the third quarter valued at $54,499,000. Natixis Advisors LLC boosted its position in shares of Installed Building Products by 6.4% during the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after buying an additional 4,451 shares during the last quarter. Citigroup Inc. boosted its position in shares of Installed Building Products by 54.0% during the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after buying an additional 16,569 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after buying an additional 23,179 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Up 0.3 %

IBP stock opened at $171.74 on Thursday. Installed Building Products, Inc. has a twelve month low of $159.76 and a twelve month 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. The stock has a market cap of $4.77 billion, a P/E ratio of 19.08 and a beta of 2.05. The business’s 50-day moving average price is $182.54 and its 200-day moving average price is $206.24.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s payout ratio is presently 16.26%.

Wall Street Analysts Forecast Growth

IBP has been the topic of several recent analyst reports. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $238.00 to $206.00 in a research report on Monday, December 16th. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Benchmark dropped their target price on 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. JPMorgan Chase & Co. raised their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group dropped their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $219.40.

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.