Royce & Associates LP Reduces Holdings in Installed Building Products, Inc. (NYSE:IBP)

Royce & Associates LP lowered its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 16.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,833 shares of the construction company’s stock after selling 27,595 shares during the period. Royce & Associates LP owned 0.48% of Installed Building Products worth $33,452,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Diversified Trust Co boosted its stake in Installed Building Products by 2.3% during the 2nd quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock worth $416,000 after purchasing an additional 46 shares during the period. CWM LLC boosted its stake in Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the period. Arkadios Wealth Advisors boosted its stake in Installed Building Products by 2.5% during the 2nd quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock worth $523,000 after purchasing an additional 63 shares during the period. Xponance Inc. boosted its stake in Installed Building Products by 5.3% during the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock worth $312,000 after purchasing an additional 76 shares during the period. Finally, GHP Investment Advisors Inc. boosted its stake in Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

Shares of IBP opened at $208.00 on Friday. The company has a 50-day simple moving average of $230.81 and a 200-day simple moving average of $224.65. 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 company has a market capitalization of $5.85 billion, a PE ratio of 23.11 and a beta of 1.95. Installed Building Products, Inc. has a 52-week low of $137.01 and a 52-week high of $281.04.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. Installed Building Products’s dividend payout ratio is presently 15.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IBP shares. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Stephens restated an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Truist Financial raised their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Evercore ISI raised their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $252.30.

Installed Building Products 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.