Wells Fargo & Company MN Sells 11,478 Shares of Installed Building Products, Inc. (NYSE:IBP)

Wells Fargo & Company MN trimmed its holdings in Installed Building Products, Inc. (NYSE:IBP) by 33.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,487 shares of the construction company’s stock after selling 11,478 shares during the period. Wells Fargo & Company MN’s holdings in Installed Building Products were worth $3,941,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Installed Building Products during the fourth quarter valued at approximately $28,509,000. Raymond James Financial Inc. purchased a new position in shares of Installed Building Products in the 4th quarter worth $23,776,000. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Installed Building Products by 25.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after acquiring an additional 83,205 shares during the period. JPMorgan Chase & Co. increased its position in Installed Building Products by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company’s stock valued at $26,949,000 after acquiring an additional 81,455 shares during the last quarter. Finally, Fisher Funds Management LTD purchased a new position in Installed Building Products in the fourth quarter worth about $12,309,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Benchmark decreased their price target on shares of 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. Truist Financial dropped their price target on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, March 3rd. Loop Capital decreased their target price on Installed Building Products from $230.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, DA Davidson cut their price target on Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Installed Building Products currently has an average rating of “Hold” and an average target price of $216.09.

Installed Building Products Stock Down 2.3 %

NYSE IBP opened at $154.60 on Tuesday. The stock has a market cap of $4.27 billion, a PE ratio of 17.18 and a beta of 1.84. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products, Inc. has a 12 month low of $151.27 and a 12 month high of $281.04. The stock’s 50 day moving average is $170.16 and its 200 day moving average is $193.82.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.37 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, March 14th. Installed Building Products’s payout ratio is currently 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.