Voya Investment Management LLC Lowers Stock Holdings in Installed Building Products, Inc. (NYSE:IBP)

Voya Investment Management LLC lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 81.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,846 shares of the construction company's stock after selling 65,350 shares during the period. Voya Investment Management LLC owned 0.05% of Installed Building Products worth $2,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBP. Commonwealth Equity Services LLC increased its holdings in shares of 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 worth $923,000 after purchasing an additional 405 shares during the period. Principal Financial Group Inc. grew its position in 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 buying an additional 4,467 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company's stock worth $64,000 after acquiring an additional 272 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Installed Building Products by 112.6% in the 4th quarter. JPMorgan Chase & Co. now owns 153,772 shares of the construction company's stock valued at $26,949,000 after acquiring an additional 81,455 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in shares of Installed Building Products by 28.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 20,729 shares of the construction company's stock valued at $3,633,000 after acquiring an additional 4,568 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Installed Building Products Trading Up 2.7 %

Shares of IBP stock opened at $171.08 on Friday. The business has a 50-day moving average of $169.23 and a 200 day moving average of $189.87. 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, Inc. has a 1-year low of $151.27 and a 1-year high of $281.04. The stock has a market capitalization of $4.72 billion, a PE ratio of 19.01 and a beta of 1.84.

Installed Building Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Installed Building Products's previous quarterly dividend of $0.35. Installed Building Products's dividend payout ratio is 16.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Installed Building Products from $262.00 to $228.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Truist Financial dropped their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating for the company in a report on Monday, March 3rd. DA Davidson reduced their target price 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. Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a research report on Tuesday, April 1st. They set a "hold" rating and a $183.00 price target on the stock. Finally, Loop Capital cut their price objective on Installed Building Products from $230.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $216.09.

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.

Want to see what other hedge funds are holding IBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Installed Building Products, Inc. (NYSE:IBP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.