Wedge Capital Management L L P NC Sells 586 Shares of Installed Building Products, Inc. (NYSE:IBP)

Wedge Capital Management L L P NC reduced its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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’s holdings in Installed Building Products were worth $6,219,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in Installed Building Products by 34.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,399 shares of the construction company’s stock worth $245,000 after purchasing an additional 357 shares during the last quarter. Radnor Capital Management LLC lifted its stake in shares of Installed Building Products by 61.5% in the fourth quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock worth $1,076,000 after buying an additional 2,338 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Installed Building Products by 14.3% in the fourth quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock worth $528,000 after buying an additional 376 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Installed Building Products by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock worth $48,368,000 after buying an additional 22,367 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Installed Building Products in the 3rd quarter valued at $353,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $196.38 on Friday. Installed Building Products, Inc. has a twelve month low of $169.02 and a twelve month high of $281.04. 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 $5.53 billion, a P/E ratio of 21.82 and a beta of 1.98. The firm’s 50-day simple moving average is $197.38 and its 200-day simple moving average is $218.02.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th were issued a $0.35 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.71%. Installed Building Products’s payout ratio is presently 15.56%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBP. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. The Goldman Sachs Group dropped their price target 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. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.