Loomis Sayles & Co. L P Has $29.75 Million Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Loomis Sayles & Co. L P reduced its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,778 shares of the construction company’s stock after selling 4,958 shares during the period. Loomis Sayles & Co. L P owned about 0.60% of Installed Building Products worth $29,754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Curio Wealth LLC acquired a new stake in Installed Building Products during the fourth quarter valued at approximately $30,000. Advisors Asset Management Inc. boosted its stake in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after buying an additional 140 shares in the last quarter. Quarry LP raised its stake in Installed Building Products by 953.3% during the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after acquiring an additional 286 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after acquiring an additional 272 shares during the period. Finally, Centaurus Financial Inc. acquired a new stake in shares of Installed Building Products in the 3rd quarter valued at $111,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Down 2.2 %

Shares of IBP opened at $172.52 on Friday. The stock’s fifty day simple moving average is $181.21 and its 200-day simple moving average is $203.04. 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 has a market capitalization of $4.79 billion, a PE ratio of 19.17 and a beta of 2.05. Installed Building Products, Inc. has a 12-month low of $159.77 and a 12-month high of $281.04.

Installed Building Products Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. 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 16.26%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IBP. DA Davidson dropped their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Truist Financial cut their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research note on Monday, March 3rd. Benchmark decreased their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Loop Capital cut their price objective on 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. Finally, StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus target price 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.