Great Lakes Advisors LLC Sells 6,345 Shares of Installed Building Products, Inc. (NYSE:IBP)

Great Lakes Advisors LLC cut its holdings in shares of Installed Building Products, Inc. (NYSE:IBP) by 6.1% during the 2nd quarter, Holdings Channel reports. The firm owned 97,529 shares of the construction company’s stock after selling 6,345 shares during the period. Great Lakes Advisors LLC’s holdings in Installed Building Products were worth $20,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Diversified Trust Co grew its position in Installed Building Products by 2.3% during the second quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock worth $416,000 after buying an additional 46 shares in the last quarter. Quarry LP lifted its position in shares of Installed Building Products by 37.5% during the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after acquiring an additional 57 shares during the period. CWM LLC grew its holdings in shares of Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares in the last quarter. Arkadios Wealth Advisors increased its position in shares of Installed Building Products by 2.5% in the second quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock worth $523,000 after purchasing an additional 63 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Installed Building Products by 50.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock valued at $68,000 after purchasing an additional 88 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Benchmark boosted their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. The Goldman Sachs Group raised their price objective on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial boosted their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $255.20.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $204.47 on Friday. The firm has a market cap of $5.82 billion, a PE ratio of 23.13 and a beta of 1.93. Installed Building Products, Inc. has a 52 week low of $106.01 and a 52 week high of $281.04. The firm’s fifty day moving average is $224.05 and its 200-day moving average is $227.82. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. Sell-side analysts predict that Installed Building Products, Inc. will post 11.14 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s payout ratio is presently 15.84%.

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.