Ameriprise Financial Inc. Sells 237,420 Shares of Installed Building Products, Inc. (NYSE:IBP)

Ameriprise Financial Inc. trimmed its holdings in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 80.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,045 shares of the construction company's stock after selling 237,420 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.20% of Installed Building Products worth $9,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IBP. First Trust Advisors LP boosted its stake in shares of Installed Building Products by 69.8% during the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company's stock worth $85,124,000 after acquiring an additional 199,657 shares during the last quarter. Norges Bank purchased a new position in Installed Building Products during the fourth quarter valued at $28,509,000. T. Rowe Price Investment Management Inc. grew its holdings in Installed Building Products by 87.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company's stock valued at $59,249,000 after purchasing an additional 158,173 shares during the period. Raymond James Financial Inc. purchased a new stake in Installed Building Products in the fourth quarter worth about $23,776,000. Finally, FIL Ltd raised its stake in shares of Installed Building Products by 14.0% in the fourth 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 period. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $161.53 on Tuesday. The firm has a market cap of $4.46 billion, a PE ratio of 17.95 and a beta of 1.85. The stock has a 50 day moving average of $167.71 and a 200 day moving average of $184.03. 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.

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

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.92%. Installed Building Products's dividend payout ratio (DPR) is presently 16.88%.

Analyst Upgrades and Downgrades

IBP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Installed Building Products in a report on Tuesday, April 1st. They issued a "hold" rating and a $183.00 target price for the company. Benchmark reduced 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 research note on Friday, May 9th. StockNews.com cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Loop Capital cut their price target on Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Truist Financial decreased their price target 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $212.45.

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.

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