Connor Clark & Lunn Investment Management Ltd. Sells 26,863 Shares of Installed Building Products, Inc. (NYSE:IBP)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Installed Building Products, Inc. (NYSE:IBP) by 63.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,243 shares of the construction company’s stock after selling 26,863 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Installed Building Products worth $3,754,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IBP. Global Alpha Capital Management Ltd. lifted its holdings in shares of Installed Building Products by 1.6% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 65,299 shares of the construction company’s stock worth $16,081,000 after purchasing an additional 1,000 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in Installed Building Products by 149.3% during the third quarter. Segall Bryant & Hamill LLC now owns 81,075 shares of the construction company’s stock worth $19,966,000 after buying an additional 48,559 shares during the last quarter. Premier Fund Managers Ltd lifted its stake in shares of Installed Building Products by 41.6% in the third quarter. Premier Fund Managers Ltd now owns 80,108 shares of the construction company’s stock valued at $20,051,000 after buying an additional 23,532 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Installed Building Products during the third quarter valued at about $2,418,000. Finally, Meeder Asset Management Inc. increased its position in shares of Installed Building Products by 12,592.1% during the third quarter. Meeder Asset Management Inc. now owns 4,823 shares of the construction company’s stock worth $1,188,000 after acquiring an additional 4,785 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

IBP has been the subject of a number of analyst reports. DA Davidson cut their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Evercore ISI increased their price target on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stephens reaffirmed an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and a consensus price target of $253.70.

Installed Building Products Price Performance

NYSE IBP opened at $217.09 on Friday. The company has a market cap of $6.11 billion, a PE ratio of 24.12 and a beta of 1.95. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The firm’s 50-day simple moving average is $230.72 and its two-hundred day simple moving average is $223.09. Installed Building Products, Inc. has a 52 week low of $144.15 and a 52 week high of $281.04.

Installed Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Sunday, December 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.64%. Installed Building Products’s dividend payout ratio is 15.56%.

Installed Building Products Company 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.