Installed Building Products, Inc. (NYSE:IBP) Stock Holdings Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 72.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,194 shares of the construction company’s stock after selling 11,049 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Installed Building Products were worth $735,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. AlphaQuest LLC raised its holdings in shares of Installed Building Products by 79.9% during the fourth quarter. AlphaQuest LLC now owns 1,851 shares of the construction company’s stock valued at $324,000 after acquiring an additional 822 shares during the period. Amundi raised its holdings in shares of Installed Building Products by 193.1% during the fourth quarter. Amundi now owns 12,024 shares of the construction company’s stock valued at $2,118,000 after acquiring an additional 7,922 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in shares of Installed Building Products by 2.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,518 shares of the construction company’s stock valued at $617,000 after acquiring an additional 93 shares during the period. Raymond James Financial Inc. purchased a new position in Installed Building Products during the fourth quarter valued at approximately $23,776,000. Finally, Dana Investment Advisors Inc. grew its position in Installed Building Products by 0.9% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock valued at $1,363,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial decreased 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 report on Monday, March 3rd. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $238.00 to $206.00 in a research note 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, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $219.40.

Installed Building Products Price Performance

NYSE:IBP opened at $172.37 on Friday. The stock has a market cap of $4.78 billion, a P/E ratio of 19.15 and a beta of 2.05. Installed Building Products, Inc. has a one year low of $159.77 and a one year high of $281.04. The company has a fifty day moving average price of $182.19 and a 200 day moving average price of $203.88. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, March 14th. Installed Building Products’s dividend payout ratio is presently 16.26%.

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.