Channing Capital Management LLC Lowers Stock Position in Installed Building Products, Inc. (NYSE:IBP)

Channing Capital Management LLC decreased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,484 shares of the construction company’s stock after selling 4,806 shares during the quarter. Channing Capital Management LLC owned about 0.77% of Installed Building Products worth $37,939,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of IBP. Verdence Capital Advisors LLC purchased a new stake in shares of Installed Building Products in the third quarter valued at about $203,000. Atria Investments Inc increased its position in Installed Building Products by 6.5% in the 3rd quarter. Atria Investments Inc now owns 2,540 shares of the construction company’s stock valued at $625,000 after acquiring an additional 156 shares during the period. Lisanti Capital Growth LLC acquired a new position in Installed Building Products in the 3rd quarter valued at about $5,093,000. Versor Investments LP purchased a new stake in Installed Building Products during the 3rd quarter valued at approximately $641,000. Finally, WCM Investment Management LLC acquired a new stake in Installed Building Products during the 3rd quarter worth approximately $15,287,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Up 1.3 %

Shares of Installed Building Products stock opened at $179.36 on Tuesday. The company has a 50-day moving average of $182.68 and a two-hundred day moving average of $206.91. Installed Building Products, Inc. has a 12-month low of $159.76 and a 12-month high of $281.04. 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 stock has a market cap of $4.98 billion, a PE ratio of 19.93 and a beta of 2.05.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.83%. Installed Building Products’s payout ratio is currently 16.26%.

Analyst Ratings Changes

Several research firms have recently commented on IBP. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial reduced their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research note on Monday, March 3rd. DA Davidson dropped their price target 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. Finally, Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and an average price target of $219.40.

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.