Installed Building Products (NYSE:IBP) Reaches New 52-Week Low – Time to Sell?

Shares of Installed Building Products, Inc. (NYSE:IBP) hit a new 52-week low during mid-day trading on Saturday . The company traded as low as $157.93 and last traded at $173.19, with a volume of 784236 shares changing hands. The stock had previously closed at $163.79.

Analyst Ratings Changes

A number of research firms have recently commented on IBP. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. The Goldman Sachs Group dropped their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Truist Financial reduced their target price on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Finally, Loop Capital reduced their price objective on shares of Installed Building Products from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $216.09.

Installed Building Products Price Performance

The firm has a market capitalization of $4.81 billion, a PE ratio of 19.24 and a beta of 1.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The business’s 50 day moving average is $177.57 and its two-hundred day moving average is $200.80.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.37 per share. The ex-dividend date was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.85%. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. Vanguard Group Inc. lifted its stake in Installed Building Products by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after purchasing an additional 16,597 shares during the last quarter. State Street Corp raised its holdings in shares of Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after buying an additional 96,780 shares in the last quarter. FIL Ltd lifted its position in Installed Building Products by 14.0% in the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock worth $182,091,000 after buying an additional 127,215 shares during the last quarter. Geode Capital Management LLC boosted its stake in Installed Building Products by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after buying an additional 10,553 shares in the last quarter. Finally, Giverny Capital Inc. grew its position in Installed Building Products by 3.6% during the fourth quarter. Giverny Capital Inc. now owns 504,735 shares of the construction company’s stock valued at $88,455,000 after acquiring an additional 17,620 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.