Installed Building Products, Inc. (NYSE:IBP) Stock Holdings Trimmed by Millennium Management LLC

Millennium Management LLC lowered its position in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 27.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,769 shares of the construction company's stock after selling 37,538 shares during the quarter. Millennium Management LLC owned 0.36% of Installed Building Products worth $17,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in Installed Building Products by 8.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,266 shares of the construction company's stock valued at $923,000 after acquiring an additional 405 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Installed Building Products by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 126,872 shares of the construction company's stock worth $22,234,000 after purchasing an additional 4,467 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock worth $64,000 after purchasing an additional 272 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Installed Building Products by 112.6% during the fourth quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock worth $26,949,000 after purchasing an additional 81,455 shares in the last quarter. Finally, Moody Aldrich Partners LLC lifted its stake in shares of Installed Building Products by 28.3% during the fourth quarter. Moody Aldrich Partners LLC now owns 20,729 shares of the construction company's stock worth $3,633,000 after purchasing an additional 4,568 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

Installed Building Products Stock Up 4.1%

Shares of NYSE:IBP traded up $6.44 during trading on Tuesday, hitting $162.98. The company's stock had a trading volume of 719,028 shares, compared to its average volume of 339,914. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products, Inc. has a fifty-two week low of $150.83 and a fifty-two week high of $281.04. The stock's 50-day moving average price is $166.01 and its two-hundred day moving average price is $181.63. The company has a market capitalization of $4.50 billion, a PE ratio of 18.11 and a beta of 1.85.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.15). The firm had revenue of $684.80 million during 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 quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. As a group, sell-side analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 13th. Installed Building Products's dividend payout ratio is currently 16.88%.

Analyst Ratings Changes

IBP has been the topic of a number of recent research reports. DA Davidson reduced their price objective on Installed Building Products from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Truist Financial reduced their price objective on 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 reduced their price objective on Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Benchmark reduced their price objective on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen cut Installed Building Products from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Installed Building Products has a consensus rating of "Hold" and an average price target of $212.45.

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.