Installed Building Products, Inc. (NYSE:IBP) Stock Holdings Cut by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its position in Installed Building Products, Inc. (NYSE:IBP) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,486 shares of the construction company’s stock after selling 586 shares during the period. Wedge Capital Management L L P NC owned approximately 0.13% of Installed Building Products worth $6,219,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FMR LLC lifted its holdings in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after acquiring an additional 367,628 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new stake in shares of Installed Building Products in the 3rd quarter worth approximately $54,499,000. Wellington Management Group LLP acquired a new stake in Installed Building Products during the third quarter valued at approximately $34,635,000. Millennium Management LLC boosted its holdings in Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after buying an additional 114,259 shares in the last quarter. Finally, State Street Corp grew its position in Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Ratings Changes

IBP has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday. Two 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 company. According to data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average price target of $240.40.

Installed Building Products Trading Down 1.3 %

NYSE IBP opened at $196.38 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 1-year low of $169.02 and a 1-year high of $281.04. The firm’s fifty day simple moving average is $197.38 and its 200-day simple moving average is $218.02. The company has a market capitalization of $5.53 billion, a PE ratio of 21.82 and a beta of 1.98.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) 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.