Connor Clark & Lunn Investment Management Ltd. Has $735,000 Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Installed Building Products, Inc. (NYSE:IBP) by 72.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,194 shares of the construction company’s stock after selling 11,049 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Installed Building Products were worth $735,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of 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. Smartleaf Asset Management LLC raised its stake in shares of Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after buying an additional 272 shares in the last quarter. Quarry LP raised its stake in shares of Installed Building Products by 953.3% in the 3rd quarter. Quarry LP now owns 316 shares of the construction company’s stock valued at $78,000 after buying an additional 286 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of Installed Building Products in the 3rd quarter valued at $111,000. Finally, Principal Securities Inc. raised its stake in shares of Installed Building Products by 20.0% in the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company’s stock valued at $196,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IBP. Benchmark lowered their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. The Goldman Sachs Group lowered their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $219.40.

Installed Building Products Stock Down 1.4 %

Shares of NYSE:IBP opened at $172.37 on Friday. Installed Building Products, Inc. has a 12 month low of $159.77 and a 12 month high of $281.04. The company’s 50-day moving average price is $182.19 and its two-hundred day moving average price is $203.88. 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 cap of $4.78 billion, a P/E ratio of 19.15 and a beta of 2.05.

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%.

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.