Installed Building Products, Inc. (NYSE:IBP) Position Trimmed by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its stake in Installed Building Products, Inc. (NYSE:IBP) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,211 shares of the construction company’s stock after selling 1,446 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Installed Building Products were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in IBP. Barclays PLC boosted its stake in shares of Installed Building Products by 61.9% during the 3rd quarter. Barclays PLC now owns 97,711 shares of the construction company’s stock valued at $24,063,000 after buying an additional 37,347 shares during the period. Franklin Resources Inc. boosted its position in Installed Building Products by 13.0% during the third quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock valued at $48,368,000 after purchasing an additional 22,367 shares during the last quarter. Park Avenue Securities LLC grew its stake in Installed Building Products by 14.3% in the fourth quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock valued at $528,000 after purchasing an additional 376 shares in the last quarter. Radnor Capital Management LLC increased its position in Installed Building Products by 61.5% in the 4th quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock worth $1,076,000 after purchasing an additional 2,338 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Installed Building Products by 34.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,399 shares of the construction company’s stock worth $245,000 after purchasing an additional 357 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $168.18 on Wednesday. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 18.69 and a beta of 1.84. The business has a 50 day moving average price of $169.18 and a 200 day moving average price of $191.17. 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 twelve month low of $151.27 and a twelve month high of $281.04.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.37 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.88%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.26%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Installed Building Products in a report on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price objective on the stock. Loop Capital dropped their price target on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. DA Davidson reduced their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group lowered their target price on shares of 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. Finally, Truist Financial reduced their price target on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and an average target price 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.