Loomis Sayles & Co. L P Sells 4,958 Shares of Installed Building Products, Inc. (NYSE:IBP)

Loomis Sayles & Co. L P cut its stake in shares of Installed Building Products, Inc. (NYSE:IBP) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,778 shares of the construction company’s stock after selling 4,958 shares during the period. Loomis Sayles & Co. L P’s holdings in Installed Building Products were worth $29,754,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IBP. FMR LLC grew its position in shares of Installed Building Products by 61.5% during the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC acquired a new position in Installed Building Products during the third quarter valued at approximately $54,499,000. Wellington Management Group LLP bought a new stake in Installed Building Products in the third quarter valued at approximately $34,635,000. Raymond James Financial Inc. acquired a new stake in Installed Building Products in the fourth quarter worth $23,776,000. Finally, State Street Corp boosted its position in shares of Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after purchasing an additional 96,780 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IBP. Seaport Res Ptn downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. Truist Financial decreased their price objective on Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, March 3rd. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, DA Davidson reduced their price target on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $219.40.

Installed Building Products Price Performance

NYSE IBP opened at $172.52 on Friday. The firm’s 50 day moving average is $181.21 and its 200-day moving average is $203.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $4.79 billion, a PE ratio of 19.17 and a beta of 2.05. Installed Building Products, Inc. has a 12-month low of $159.77 and a 12-month high of $281.04.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Installed Building Products’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.86%. Installed Building Products’s payout ratio is 16.26%.

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.