Crossmark Global Holdings Inc. Reduces Holdings in Installed Building Products, Inc. (NYSE:IBP)

Crossmark Global Holdings Inc. lessened its stake in Installed Building Products, Inc. (NYSE:IBP) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,739 shares of the construction company’s stock after selling 79 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Installed Building Products were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Xponance Inc. grew its holdings in shares of Installed Building Products by 5.3% in the second quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after purchasing an additional 76 shares in the last quarter. Millennium Management LLC grew its position in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after purchasing an additional 114,259 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Installed Building Products by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,200 shares of the construction company’s stock valued at $2,921,000 after acquiring an additional 627 shares during the last quarter. Ascent Group LLC grew its position in Installed Building Products by 10.9% in the 2nd quarter. Ascent Group LLC now owns 17,816 shares of the construction company’s stock valued at $3,664,000 after buying an additional 1,754 shares during the last quarter. Finally, Algert Global LLC lifted its position in Installed Building Products by 71.0% in the second quarter. Algert Global LLC now owns 5,848 shares of the construction company’s stock valued at $1,203,000 after purchasing an additional 2,428 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Installed Building Products stock opened at $205.03 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The firm has a market cap of $5.77 billion, a P/E ratio of 22.78 and a beta of 1.98. Installed Building Products, Inc. has a 52 week low of $169.02 and a 52 week high of $281.04. The business’s fifty day moving average is $196.98 and its two-hundred day moving average is $218.10.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s dividend payout ratio is presently 15.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. The Goldman Sachs Group decreased their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $240.40.

About Installed Building Products

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.