Wells Fargo & Company MN Lowers Position in Installed Building Products, Inc. (NYSE:IBP)

Wells Fargo & Company MN lessened its holdings in Installed Building Products, Inc. (NYSE:IBP - Free Report) by 33.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,487 shares of the construction company's stock after selling 11,478 shares during the quarter. Wells Fargo & Company MN owned 0.08% of Installed Building Products worth $3,941,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Curio Wealth LLC bought a new stake in shares of Installed Building Products during the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC grew 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 buying an additional 272 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Installed Building Products by 819.0% during the fourth quarter. Headlands Technologies LLC now owns 726 shares of the construction company's stock worth $127,000 after buying an additional 647 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Installed Building Products in the 3rd quarter valued at $260,000. Finally, Principal Securities Inc. boosted its holdings in shares of Installed Building Products by 20.0% during the 4th quarter. Principal Securities Inc. now owns 1,118 shares of the construction company's stock valued at $196,000 after acquiring an additional 186 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Trading Down 1.0 %

IBP stock traded down $1.78 during mid-day trading on Friday, reaching $168.49. The company's stock had a trading volume of 260,483 shares, compared to its average volume of 334,118. Installed Building Products, Inc. has a 12 month low of $151.27 and a 12 month high of $281.04. 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 business's 50 day moving average price is $169.32 and its 200 day moving average price is $192.45. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 18.72 and a beta of 1.84.

Installed Building Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Installed Building Products's previous quarterly dividend of $0.35. Installed Building Products's payout ratio is presently 16.26%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Benchmark cut their price target on Installed Building Products from $250.00 to $210.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. StockNews.com downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Loop Capital decreased their price target on shares of Installed Building Products from $230.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Truist Financial cut their price target on shares of Installed Building Products from $240.00 to $180.00 and set a "hold" rating on the stock in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Installed Building Products in a research note on Tuesday, April 1st. They issued a "hold" rating and a $183.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $216.09.

Installed Building Products Company 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.