Victory Capital Management Inc. Has $6.44 Million Holdings in Installed Building Products, Inc. (NYSE:IBP)

Victory Capital Management Inc. cut its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,757 shares of the construction company’s stock after selling 689 shares during the period. Victory Capital Management Inc. owned 0.13% of Installed Building Products worth $6,442,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of Installed Building Products by 7.9% during 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. Sanctuary Advisors LLC increased its holdings in shares of Installed Building Products by 8.9% during the fourth quarter. Sanctuary Advisors LLC now owns 1,561 shares of the construction company’s stock worth $274,000 after purchasing an additional 128 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of Installed Building Products by 15.3% during the third quarter. TD Private Client Wealth LLC now owns 1,034 shares of the construction company’s stock worth $255,000 after purchasing an additional 137 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares during the period. Finally, Atria Investments Inc increased its holdings in shares of Installed Building Products by 6.5% during the third quarter. Atria Investments Inc now owns 2,540 shares of the construction company’s stock worth $625,000 after purchasing an additional 156 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

IBP stock opened at $171.64 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a 52 week low of $159.77 and a 52 week high of $281.04. The firm’s fifty day moving average is $182.38 and its 200 day moving average is $205.59. The firm has a market cap of $4.76 billion, a P/E ratio of 19.07 and a beta of 2.05.

Installed Building Products Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 0.86%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio is presently 16.26%.

Analyst Upgrades and Downgrades

IBP has been the topic of a number of recent analyst reports. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. The Goldman Sachs Group decreased their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Truist Financial decreased their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, DA Davidson decreased their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and a consensus 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.