UniSuper Management Pty Ltd Has $4.40 Million Stake in Installed Building Products, Inc. (NYSE:IBP)

UniSuper Management Pty Ltd cut its stake in Installed Building Products, Inc. (NYSE:IBP) by 11.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,085 shares of the construction company’s stock after selling 3,200 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Installed Building Products were worth $4,396,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after purchasing an additional 367,628 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new stake in Installed Building Products in the 3rd quarter valued at approximately $54,499,000. Wellington Management Group LLP acquired a new position in Installed Building Products during the 3rd quarter worth approximately $34,635,000. Raymond James Financial Inc. bought a new position in shares of Installed Building Products during the 4th quarter worth approximately $23,776,000. Finally, State Street Corp raised its holdings in shares of Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after purchasing an additional 96,780 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 0.8 %

IBP stock opened at $170.96 on Friday. Installed Building Products, Inc. has a one year low of $159.77 and a one year high of $281.04. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 19.00 and a beta of 2.05. The company has a fifty day moving average price of $180.70 and a two-hundred day moving average price of $202.81. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Increases Dividend

The business also recently announced 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. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.87%. Installed Building Products’s payout ratio is presently 16.26%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IBP. Loop Capital decreased their target price 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. Truist Financial lowered their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, March 3rd. DA Davidson dropped their target price on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group decreased their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $219.40.

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.