WCM Investment Management LLC Acquires Shares of 61,051 Installed Building Products, Inc. (NYSE:IBP)

WCM Investment Management LLC acquired a new stake in shares of Installed Building Products, Inc. (NYSE:IBP) in the 3rd quarter, Holdings Channel reports. The firm acquired 61,051 shares of the construction company’s stock, valued at approximately $15,287,000.

Other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Installed Building Products in the first quarter valued at $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products in the third quarter valued at $29,000. GHP Investment Advisors Inc. raised its stake in shares of Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after acquiring an additional 78 shares during the period. CWM LLC raised its stake in shares of Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Installed Building Products in the first quarter valued at $68,000. Institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IBP. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $203.00 to $197.00 in a research note on Friday. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Truist Financial raised their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Evercore ISI raised their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group raised their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $252.30.

Installed Building Products Trading Up 0.2 %

NYSE IBP opened at $210.74 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.59 and a current ratio of 2.99. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 23.42 and a beta of 1.95. The company’s 50-day simple moving average is $231.09 and its two-hundred day simple moving average is $225.16. Installed Building Products, Inc. has a one year low of $124.01 and a one year high of $281.04.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.56%.

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.