Ameriprise Financial Inc. Has $9.82 Million Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Ameriprise Financial Inc. trimmed its stake in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 80.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,045 shares of the construction company's stock after selling 237,420 shares during the quarter. Ameriprise Financial Inc. owned about 0.20% of Installed Building Products worth $9,822,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in Installed Building Products by 0.8% in the 4th quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock valued at $1,221,000 after buying an additional 56 shares in the last quarter. Dana Investment Advisors Inc. boosted its position in shares of Installed Building Products by 0.9% in the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock valued at $1,363,000 after acquiring an additional 71 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Installed Building Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock valued at $439,000 after acquiring an additional 79 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Installed Building Products by 7.9% in the fourth quarter. Blue Trust Inc. now owns 1,257 shares of the construction company's stock valued at $220,000 after acquiring an additional 92 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its position in 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 worth $617,000 after acquiring an additional 93 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBP. Benchmark cut their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research note on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price target for the company. Wall Street Zen lowered Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Loop Capital dropped their price objective on Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a report on Monday, May 12th. Finally, Truist Financial reduced their target price on Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Installed Building Products currently has an average rating of "Hold" and an average target price of $212.45.

Installed Building Products Price Performance

Installed Building Products stock traded up $1.35 during midday trading on Friday, reaching $156.73. The company's stock had a trading volume of 380,762 shares, compared to its average volume of 338,391. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock has a market cap of $4.33 billion, a PE ratio of 17.41 and a beta of 1.85. Installed Building Products, Inc. has a 52 week low of $150.83 and a 52 week high of $281.04. The business has a 50-day moving average price of $166.59 and a 200-day moving average price of $182.13.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. The company had revenue of $684.80 million for the quarter, compared to analyst estimates of $681.34 million. During the same quarter in the prior year, the company earned $2.47 earnings per share. Installed Building Products's revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, June 13th. Installed Building Products's payout ratio is 16.88%.

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.