Installed Building Products, Inc. (NYSE:IBP) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC lessened its holdings in Installed Building Products, Inc. (NYSE:IBP) by 2.2% during the 4th quarter, Holdings Channel reports. The firm owned 216,484 shares of the construction company’s stock after selling 4,806 shares during the quarter. Channing Capital Management LLC’s holdings in Installed Building Products were worth $37,939,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IBP. Arizona State Retirement System raised its holdings in Installed Building Products by 0.8% in the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock valued at $1,221,000 after acquiring an additional 56 shares during the last quarter. Dana Investment Advisors Inc. boosted its holdings in shares of Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. grew its position in shares of Installed Building Products by 7.9% in the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company’s stock valued at $220,000 after purchasing an additional 92 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in Installed Building Products by 2.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company’s stock valued at $617,000 after purchasing an additional 93 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in 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 buying an additional 128 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 $179.36 on Tuesday. The stock has a 50-day simple moving average of $182.68 and a 200-day simple moving average of $206.91. The firm has a market cap of $4.98 billion, a P/E ratio of 19.93 and a beta of 2.05. 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 1 year low of $159.76 and a 1 year high of $281.04.

Installed Building Products Increases Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the company. The Goldman Sachs Group lowered their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Loop Capital dropped their price target on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Benchmark cut their price target on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted 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, Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and cut their target price for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average price target 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.