Steward Partners Investment Advisory LLC Decreases Holdings in Installed Building Products, Inc. (NYSE:IBP)

Steward Partners Investment Advisory LLC trimmed its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,491 shares of the construction company’s stock after selling 121 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Installed Building Products were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of IBP. Teachers Retirement System of The State of Kentucky increased its position in shares of Installed Building Products by 121.1% during the third 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 acquired a new stake in shares of Installed Building Products during the third quarter worth about $54,499,000. Natixis Advisors LLC increased its position in shares of Installed Building Products by 6.4% during the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock worth $18,286,000 after purchasing an additional 4,451 shares in the last quarter. Citigroup Inc. increased its position in shares of Installed Building Products by 54.0% during the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock worth $11,633,000 after purchasing an additional 16,569 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after purchasing an additional 23,179 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE IBP opened at $171.68 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $182.61 and its two-hundred day moving average is $206.48. Installed Building Products, Inc. has a 12-month low of $159.76 and a 12-month high of $281.04. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 19.08 and a beta of 2.05.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.86%. Installed Building Products’s payout ratio is presently 16.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IBP. JPMorgan Chase & Co. lifted their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. 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. Truist Financial dropped their price target on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Benchmark dropped their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $219.40.

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.