Prudential Financial Inc. Lowers Position in Installed Building Products, Inc. (NYSE:IBP)

Prudential Financial Inc. decreased its stake in Installed Building Products, Inc. (NYSE:IBP) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,612 shares of the construction company’s stock after selling 514 shares during the quarter. Prudential Financial Inc. owned approximately 0.08% of Installed Building Products worth $4,138,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IBP. Arizona State Retirement System grew its stake in shares of Installed Building Products by 0.8% during the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock valued at $1,221,000 after acquiring an additional 56 shares during the period. Dana Investment Advisors Inc. boosted its position in shares of Installed Building Products by 0.9% in the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 71 shares during the period. Blue Trust Inc. boosted its position in shares of Installed Building Products by 7.9% in the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company’s stock worth $220,000 after purchasing an additional 92 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in shares of Installed Building Products by 2.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company’s stock worth $617,000 after purchasing an additional 93 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Installed Building Products by 8.9% during the 4th quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company’s stock valued at $274,000 after purchasing an additional 128 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Shares of NYSE:IBP opened at $172.35 on Wednesday. The firm has a fifty day simple moving average of $179.63 and a two-hundred day simple moving average of $202.12. 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. The stock has a market capitalization of $4.78 billion, a P/E ratio of 19.15 and a beta of 2.05.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.86%. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IBP shares. Loop Capital cut their price target on Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. DA Davidson cut their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Benchmark cut their price objective on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $216.09.

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.