Los Angeles Capital Management LLC Sells 1,675 Shares of Installed Building Products, Inc. (NYSE:IBP)

Los Angeles Capital Management LLC cut its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 10.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,630 shares of the construction company’s stock after selling 1,675 shares during the period. Los Angeles Capital Management LLC’s holdings in Installed Building Products were worth $3,357,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Installed Building Products during the first quarter valued at about $29,000. V Square Quantitative Management LLC bought a new position in shares of Installed Building Products during the 3rd quarter worth approximately $29,000. GHP Investment Advisors Inc. boosted its stake in shares of Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. CWM LLC grew its holdings in shares of Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Installed Building Products during the first quarter valued at approximately $68,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on IBP. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price objective for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Stephens restated an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th. Evercore ISI lifted their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. 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. Finally, DA Davidson reduced their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Stock Performance

NYSE:IBP opened at $207.65 on Wednesday. The business’s fifty day moving average is $230.84 and its 200 day moving average is $224.77. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 23.07 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.59 and a current ratio of 2.99. Installed Building Products, Inc. has a 52-week low of $124.01 and a 52-week high of $281.04.

Installed Building Products Announces Dividend

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