Royce & Associates LP Reduces Holdings in Installed Building Products, Inc. (NYSE:IBP)

Royce & Associates LP reduced its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 16.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,833 shares of the construction company’s stock after selling 27,595 shares during the quarter. Royce & Associates LP’s holdings in Installed Building Products were worth $33,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc purchased a new position in Installed Building Products during the 3rd quarter valued at about $203,000. Curi RMB Capital LLC purchased a new position in Installed Building Products during the 3rd quarter valued at about $2,378,000. Zions Bancorporation N.A. increased its holdings in Installed Building Products by 18.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,623 shares of the construction company’s stock valued at $2,862,000 after acquiring an additional 1,787 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Installed Building Products during the 3rd quarter valued at about $243,000. Finally, Aigen Investment Management LP purchased a new position in Installed Building Products during the 3rd quarter valued at about $586,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price target for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Stephens reiterated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Evercore ISI lifted their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $252.30.

Installed Building Products Price Performance

IBP opened at $208.00 on Friday. The company’s 50 day simple moving average is $230.81 and its 200 day simple moving average is $224.65. 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 $137.01 and a 1 year high of $281.04. The stock has a market capitalization of $5.85 billion, a PE ratio of 23.11 and a beta of 1.95.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.67%. Installed Building Products’s dividend payout ratio (DPR) is 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.