Everence Capital Management Inc. Lowers Holdings in Installed Building Products, Inc. (NYSE:IBP)

Everence Capital Management Inc. lowered its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,680 shares of the construction company’s stock after selling 730 shares during the quarter. Everence Capital Management Inc.’s holdings in Installed Building Products were worth $470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBP. Teachers Retirement System of The State of Kentucky lifted its stake in Installed Building Products by 121.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock worth $3,963,000 after purchasing an additional 8,815 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in shares of Installed Building Products in the third quarter worth about $54,499,000. Creative Planning boosted its stake in Installed Building Products by 39.6% during the third quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after buying an additional 2,187 shares during the last quarter. Natixis Advisors LLC grew its holdings in Installed Building Products by 6.4% during the 3rd 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 in the last quarter. Finally, Citigroup Inc. increased its stake in Installed Building Products by 54.0% in the 3rd quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock worth $11,633,000 after acquiring an additional 16,569 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Wall Street Analysts Forecast Growth

IBP has been the subject of a number of recent research reports. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their target price for the company from $238.00 to $206.00 in a report on Monday, December 16th. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, DA Davidson lowered their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $247.10.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $175.58 on Monday. 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’s fifty day moving average is $205.06 and its two-hundred day moving average is $219.29. Installed Building Products, Inc. has a 52 week low of $168.08 and a 52 week high of $281.04. The company has a market capitalization of $4.94 billion, a PE ratio of 19.51 and a beta of 1.98.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Sunday, December 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, December 13th. Installed Building Products’s dividend payout ratio is presently 15.56%.

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.