Artisan Partners Limited Partnership Sells 6,045 Shares of Installed Building Products, Inc. (NYSE:IBP)

Artisan Partners Limited Partnership lowered its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,012 shares of the construction company’s stock after selling 6,045 shares during the quarter. Artisan Partners Limited Partnership owned 0.58% of Installed Building Products worth $28,743,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Installed Building Products by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock valued at $462,100,000 after acquiring an additional 16,597 shares in the last quarter. State Street Corp raised its stake in shares of Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after acquiring an additional 96,780 shares in the last quarter. FMR LLC lifted its position in Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after acquiring an additional 367,628 shares during the last quarter. Geode Capital Management LLC boosted its stake in Installed Building Products by 3.9% in the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after acquiring an additional 23,179 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Installed Building Products by 25.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after purchasing an additional 83,205 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBP has been the subject of a number of recent analyst reports. 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. Truist Financial lowered their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research note on Monday, March 3rd. Benchmark cut 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 note on Monday, March 3rd. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group cut 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $219.40.

Installed Building Products Stock Down 0.8 %

Installed Building Products stock opened at $170.96 on Friday. Installed Building Products, Inc. has a 52 week low of $159.77 and a 52 week high of $281.04. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 19.00 and a beta of 2.05. The business’s 50-day moving average price is $180.70 and its 200 day moving average price is $202.81. 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. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.87%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s payout ratio is 16.26%.

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.