Guinness Asset Management LTD Has $14.11 Million Holdings in Installed Building Products, Inc. (NYSE:IBP)

Guinness Asset Management LTD lowered its position in Installed Building Products, Inc. (NYSE:IBP) by 24.2% during the fourth quarter, Holdings Channel reports. The firm owned 80,524 shares of the construction company’s stock after selling 25,697 shares during the period. Guinness Asset Management LTD’s holdings in Installed Building Products were worth $14,111,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in 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 during the period. FMR LLC boosted its holdings 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Installed Building Products by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after buying an additional 23,179 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Installed Building Products by 6.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock valued at $81,063,000 after acquiring an additional 20,155 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Installed Building Products by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock valued at $68,065,000 after acquiring an additional 21,942 shares during the period. 99.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBP has been the subject of a number of research reports. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $238.00 to $206.00 in a report on Monday, December 16th. JPMorgan Chase & Co. raised their target price on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. The Goldman Sachs Group decreased their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group increased their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Installed Building Products has an average rating of “Hold” and an average target price of $240.40.

Installed Building Products Price Performance

IBP opened at $196.38 on Monday. The firm’s fifty day moving average price is $197.38 and its two-hundred day moving average price is $218.14. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 21.82 and a beta of 1.98. 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 $169.02 and a 1 year high of $281.04.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products’s payout ratio is 15.56%.

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.